$70.06 Million in Sales Expected for NeoPhotonics Co. (NPTN) This Quarter

Wall Street brokerages predict that NeoPhotonics Co. (NYSE:NPTN) will report $70.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for NeoPhotonics’ earnings, with the highest sales estimate coming in at $70.20 million and the lowest estimate coming in at $70.00 million. NeoPhotonics reported sales of $71.69 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.3%. The company is scheduled to report its next earnings results on Friday, May 4th.

On average, analysts expect that NeoPhotonics will report full-year sales of $70.06 million for the current fiscal year, with estimates ranging from $301.50 million to $326.60 million. For the next financial year, analysts expect that the company will report sales of $346.87 million per share, with estimates ranging from $333.00 million to $365.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for NeoPhotonics.

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NeoPhotonics (NYSE:NPTN) last released its earnings results on Thursday, March 1st. The semiconductor company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.05). The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.15 million. NeoPhotonics had a negative net margin of 18.21% and a negative return on equity of 22.53%. The business’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share.

NPTN has been the subject of several research analyst reports. Rosenblatt Securities set a $13.00 target price on NeoPhotonics and gave the company a “buy” rating in a research note on Sunday, February 25th. Piper Jaffray lowered NeoPhotonics from an “overweight” rating to a “neutral” rating in a research report on Monday, January 29th. Zacks Investment Research lowered NeoPhotonics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. ValuEngine raised NeoPhotonics from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, B. Riley reissued a “neutral” rating and set a $5.75 price target (up from $5.00) on shares of NeoPhotonics in a research report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.92.

Several hedge funds have recently bought and sold shares of the stock. Granite Point Capital Management L.P. increased its position 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 worth $2,548,000 after buying an additional 36,998 shares during the period. Pier 88 Investment Partners LLC increased its position 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 worth $526,000 after buying an additional 18,365 shares during the period. Princeton Capital Management LLC acquired a new stake in NeoPhotonics in the fourth quarter worth $195,000. Northpointe Capital LLC increased its position in NeoPhotonics by 21.6% in the fourth quarter. Northpointe Capital LLC now owns 1,238,969 shares of the semiconductor company’s stock worth $8,152,000 after buying an additional 220,475 shares during the period. Finally, Russell Investments Group Ltd. increased its position 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 worth $1,560,000 after buying an additional 271,400 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of NeoPhotonics stock traded down $0.12 on Tuesday, hitting $6.25. 770,080 shares of the company’s stock traded hands, compared to its average volume of 1,185,728. The stock has a market cap of $274.66, a P/E ratio of -5.68 and a beta of 0.91. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. NeoPhotonics has a 52-week low of $4.56 and a 52-week high of $9.78.

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About NeoPhotonics

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.

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