NeoPhotonics (NYSE:NPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday, Zacks.com reports.
According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “
Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of NeoPhotonics from an “overweight” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Thursday, October 8th. Needham & Company LLC raised NeoPhotonics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday. Rosenblatt Securities reissued a “hold” rating and set a $7.00 price target (up from $6.50) on shares of NeoPhotonics in a research report on Tuesday, October 6th. ValuEngine raised NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. Finally, MKM Partners lowered their target price on NeoPhotonics from $12.00 to $9.00 in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. NeoPhotonics has an average rating of “Hold” and an average target price of $9.38.
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Shares of NYSE NPTN opened at $7.90 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.19. NeoPhotonics has a 12 month low of $4.65 and a 12 month high of $10.34. The company has a market cap of $396.15 million, a price-to-earnings ratio of 24.69 and a beta of 1.14. The business has a fifty day simple moving average of $6.51 and a 200-day simple moving average of $7.87.
NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings data on Monday, November 2nd. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. NeoPhotonics had a return on equity of 10.45% and a net margin of 4.13%. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $101.92 million. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that NeoPhotonics will post 0.08 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in NeoPhotonics in the third quarter valued at approximately $252,000. GSA Capital Partners LLP raised its holdings in shares of NeoPhotonics by 58.2% during the 3rd quarter. GSA Capital Partners LLP now owns 41,378 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 15,230 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of NeoPhotonics by 2.9% during the 3rd quarter. California Public Employees Retirement System now owns 115,894 shares of the semiconductor company’s stock valued at $706,000 after purchasing an additional 3,227 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of NeoPhotonics by 21.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 517,096 shares of the semiconductor company’s stock valued at $3,149,000 after purchasing an additional 90,006 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in NeoPhotonics in the third quarter worth $311,000. 89.65% of the stock is owned by institutional investors.
NeoPhotonics Company Profile
NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks worldwide. It offers high speed products, including transmitter, receiver, and switching products for 100G and optical transmission applications over distances of 2 to 2,000 kilometers; ultra-narrow linewidth tunable lasers that generate ultra-pure wavelength or color for coherent transmission; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent optical signals.
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