American Century Companies Inc. reduced its holdings in shares of NeoPhotonics Co. (NYSE:NPTN) by 71.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,478 shares of the semiconductor company’s stock after selling 33,581 shares during the period. American Century Companies Inc.’s holdings in NeoPhotonics were worth $138,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of NeoPhotonics in the 1st quarter worth $25,000. Marshall Wace LLP lifted its stake in shares of NeoPhotonics by 4,963.0% in the 1st quarter. Marshall Wace LLP now owns 15,037 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 14,740 shares during the period. Truvestments Capital LLC lifted its stake in shares of NeoPhotonics by 94.1% in the 1st quarter. Truvestments Capital LLC now owns 8,404 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 4,075 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of NeoPhotonics by 2,351.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,150 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 9,736 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of NeoPhotonics in the 1st quarter worth $137,000. 84.23% of the stock is currently owned by institutional investors.
In other NeoPhotonics news, COO Chiyue Cheung sold 12,667 shares of NeoPhotonics stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $9.41, for a total transaction of $119,196.47. Following the transaction, the chief operating officer now directly owns 2,667 shares of the company’s stock, valued at $25,096.47. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Yuen Wupen sold 27,072 shares of NeoPhotonics stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $8.20, for a total transaction of $221,990.40. Following the transaction, the vice president now directly owns 240,100 shares in the company, valued at $1,968,820. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings results on Tuesday, August 3rd. The semiconductor company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.07. The business had revenue of $65.01 million during the quarter, compared to the consensus estimate of $62.53 million. NeoPhotonics had a negative net margin of 15.01% and a negative return on equity of 18.29%. On average, analysts anticipate that NeoPhotonics Co. will post -0.59 EPS for the current year.
Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of NeoPhotonics in a research note on Monday, September 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price objective on shares of NeoPhotonics in a research note on Friday, September 10th. Raymond James upgraded shares of NeoPhotonics from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 9th. MKM Partners raised their price objective on shares of NeoPhotonics from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Finally, Zacks Investment Research cut shares of NeoPhotonics from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, NeoPhotonics currently has an average rating of “Buy” and a consensus target price of $13.88.
NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components.
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