NeoPhotonics (NYSE:NPTN) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
Other research analysts also recently issued research reports about the stock. B. Riley restated a “neutral” rating and set a $5.75 price target (up previously from $5.00) on shares of NeoPhotonics in a research report on Friday, March 2nd. Zacks Investment Research downgraded shares of NeoPhotonics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. DA Davidson set a $7.00 price target on shares of NeoPhotonics and gave the stock a “hold” rating in a research report on Thursday, December 7th. Rosenblatt Securities set a $13.00 price target on shares of NeoPhotonics and gave the stock a “buy” rating in a research report on Sunday, February 25th. Finally, Piper Jaffray Companies downgraded shares of NeoPhotonics from an “overweight” rating to a “neutral” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.86.
NeoPhotonics (NYSE NPTN) opened at $7.17 on Friday. The firm has a market cap of $300.59, a PE ratio of -5.83 and a beta of 1.00. NeoPhotonics has a 1 year low of $4.56 and a 1 year high of $9.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Granite Point Capital Management L.P. grew its stake in NeoPhotonics by 8.8% during the 3rd quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after acquiring an additional 36,998 shares in the last quarter. Pier 88 Investment Partners LLC grew its stake in shares of NeoPhotonics by 29.8% in the 4th quarter. Pier 88 Investment Partners LLC now owns 79,951 shares of the semiconductor company’s stock valued at $526,000 after buying an additional 18,365 shares during the period. Boston Partners purchased a new stake in shares of NeoPhotonics in the 3rd quarter valued at approximately $1,884,000. Russell Investments Group Ltd. grew its stake in shares of NeoPhotonics by 2,950.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 280,600 shares of the semiconductor company’s stock valued at $1,560,000 after buying an additional 271,400 shares during the period. Finally, Northpointe Capital LLC grew its stake in shares of NeoPhotonics by 21.6% in the 4th quarter. Northpointe Capital LLC now owns 1,238,969 shares of the semiconductor company’s stock valued at $8,152,000 after buying an additional 220,475 shares during the period. 78.12% of the stock is owned by institutional investors.
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NeoPhotonics Company Profile
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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