Gilder Gagnon Howe & Co. LLC purchased a new stake in NeoPhotonics Corporation (NYSE:NPTN) during the second quarter, Holdings Channel reports. The institutional investor purchased 105,741 shares of the semiconductor company’s stock, valued at approximately $816,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of NeoPhotonics Corporation by 22.9% in the first quarter. Victory Capital Management Inc. now owns 120,564 shares of the semiconductor company’s stock valued at $1,086,000 after buying an additional 22,469 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of NeoPhotonics Corporation during the first quarter valued at approximately $614,000. Parametric Portfolio Associates LLC purchased a new stake in shares of NeoPhotonics Corporation during the first quarter valued at approximately $131,000. TFS Capital LLC purchased a new stake in shares of NeoPhotonics Corporation during the first quarter valued at approximately $110,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of NeoPhotonics Corporation during the first quarter valued at approximately $1,320,000. Institutional investors and hedge funds own 84.24% of the company’s stock.
NeoPhotonics Corporation (NPTN) opened at 5.95 on Friday. NeoPhotonics Corporation has a 1-year low of $5.94 and a 1-year high of $18.51. The stock’s market capitalization is $257.15 million. The company’s 50-day moving average is $7.90 and its 200 day moving average is $8.97.
NeoPhotonics Corporation (NYSE:NPTN) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. NeoPhotonics Corporation had a negative net margin of 7.28% and a negative return on equity of 9.35%. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $71.11 million. During the same period in the previous year, the business posted $0.15 EPS. The business’s revenue was down 26.1% compared to the same quarter last year. Equities analysts predict that NeoPhotonics Corporation will post ($0.59) earnings per share for the current year.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Needham & Company LLC restated a “strong-buy” rating and set a $13.00 price objective on shares of NeoPhotonics Corporation in a research report on Monday, June 12th. Rosenblatt Securities assumed coverage on shares of NeoPhotonics Corporation in a research report on Thursday, May 25th. They set a “buy” rating and a $13.00 price objective on the stock. Northland Securities restated a “buy” rating and set a $10.00 price objective on shares of NeoPhotonics Corporation in a research report on Friday, June 23rd. Finally, B. Riley restated a “neutral” rating and set a $6.25 price objective on shares of NeoPhotonics Corporation in a research report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. NeoPhotonics Corporation presently has an average rating of “Hold” and a consensus target price of $10.22.
In other NeoPhotonics Corporation news, major shareholder Rusnano sold 180,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $9.18, for a total transaction of $1,652,400.00. Following the completion of the transaction, the insider now directly owns 4,730,005 shares in the company, valued at $43,421,445.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Benjamin Lee Sitler sold 33,400 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $8.44, for a total transaction of $281,896.00. Following the transaction, the senior vice president now owns 84,711 shares of the company’s stock, valued at $714,960.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 359,300 shares of company stock valued at $3,243,816. Company insiders own 17.30% of the company’s stock.
About NeoPhotonics Corporation
NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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