Shares of NeoPhotonics Corp (NYSE:NPTN) traded down 1.4% on Wednesday . The stock traded as low as $7.03 and last traded at $7.01. 667,578 shares traded hands during trading, a decline of 24% from the average session volume of 881,797 shares. The stock had previously closed at $7.11.
Several analysts have recently weighed in on the company. Piper Jaffray Companies cut NeoPhotonics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Zacks Investment Research cut NeoPhotonics from a “hold” rating to a “sell” rating in a report on Tuesday. Rosenblatt Securities set a $13.00 price target on NeoPhotonics and gave the stock a “buy” rating in a report on Sunday, February 25th. Needham & Company LLC restated a “strong-buy” rating and set a $9.00 price target (up from $8.00) on shares of NeoPhotonics in a report on Friday, March 2nd. Finally, DA Davidson set a $7.00 price target on NeoPhotonics and gave the stock a “hold” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.86.
The company has a market cap of $338.82, a price-to-earnings ratio of -5.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85.
Hedge funds have recently made changes to their positions in the stock. Granite Point Capital Management L.P. lifted its stake in NeoPhotonics by 8.8% in the third quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after buying an additional 36,998 shares during the period. Pier 88 Investment Partners LLC lifted its stake in NeoPhotonics by 29.8% in the fourth 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 acquired a new position in NeoPhotonics in the third quarter valued at approximately $1,884,000. Russell Investments Group Ltd. lifted its stake in NeoPhotonics by 2,950.0% in the third 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 lifted its stake in NeoPhotonics by 21.6% in the fourth 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. Institutional investors and hedge funds own 78.12% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “NeoPhotonics (NPTN) Shares Down 1.4%” was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3261921/neophotonics-nptn-shares-down-1-4.html.
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.
Receive News & Ratings for NeoPhotonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoPhotonics and related companies with MarketBeat.com's FREE daily email newsletter.