Virtu Financial LLC purchased a new position in shares of NeoPhotonics Corp (NYSE:NPTN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,899 shares of the semiconductor company’s stock, valued at approximately $131,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of NeoPhotonics by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock worth $210,000 after buying an additional 3,245 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of NeoPhotonics by 77.8% during the third quarter. Wells Fargo & Company MN now owns 43,617 shares of the semiconductor company’s stock worth $242,000 after buying an additional 19,088 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of NeoPhotonics during the third quarter worth about $277,000. Parametric Portfolio Associates LLC grew its holdings in shares of NeoPhotonics by 294.3% during the second quarter. Parametric Portfolio Associates LLC now owns 57,311 shares of the semiconductor company’s stock worth $442,000 after buying an additional 42,777 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its holdings in shares of NeoPhotonics by 29.8% during the fourth quarter. Pier 88 Investment Partners LLC now owns 79,951 shares of the semiconductor company’s stock worth $526,000 after buying an additional 18,365 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.
NPTN has been the subject of a number of recent research reports. Rosenblatt Securities set a $13.00 price target on shares of NeoPhotonics and gave the stock a “buy” rating in a report on Tuesday, December 12th. Northland Securities reiterated a “buy” rating and set a $10.50 price target on shares of NeoPhotonics in a report on Monday, March 19th. ValuEngine upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Zacks Investment Research upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, DA Davidson set a $7.00 price target on shares of NeoPhotonics and gave the stock a “hold” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. NeoPhotonics has an average rating of “Hold” and a consensus target price of $8.92.
NeoPhotonics (NYSE:NPTN) last released its earnings results on Thursday, March 1st. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). NeoPhotonics had a negative net margin of 18.21% and a negative return on equity of 22.53%. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.15 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. NeoPhotonics’s revenue for the quarter was down 30.0% compared to the same quarter last year. analysts forecast that NeoPhotonics Corp will post -0.54 EPS for the current fiscal year.
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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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