NeoPhotonics (NYSE:NPTN)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Tuesday, AnalystRatings.com reports. They currently have a $10.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 109.64% from the stock’s current price.
Several other research analysts have also weighed in on the company. MKM Partners reiterated a “neutral” rating and set a $4.50 target price (down from $9.00) on shares of NeoPhotonics in a report on Friday, May 17th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Northland Securities reissued a “buy” rating and issued a $100.00 price target on shares of Fortinet in a research note on Friday, May 3rd. Needham & Company LLC downgraded NeoPhotonics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Craig Hallum lifted their price target on Digimarc from $42.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.53.
NPTN stock opened at $4.77 on Tuesday. The business’s 50-day simple moving average is $4.27. The company has a current ratio of 1.98, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $218.18 million, a price-to-earnings ratio of -6.45 and a beta of 1.68. NeoPhotonics has a 1-year low of $3.26 and a 1-year high of $9.48.
In related news, COO Chiyue Cheung sold 12,000 shares of NeoPhotonics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $5.79, for a total value of $69,480.00. Following the sale, the chief operating officer now owns 12,000 shares of the company’s stock, valued at $69,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elizabeth Lynne Eby bought 50,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $3.57 per share, for a total transaction of $178,500.00. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in NeoPhotonics by 43.4% during the 4th quarter. Rhumbline Advisers now owns 50,812 shares of the semiconductor company’s stock worth $329,000 after acquiring an additional 15,388 shares in the last quarter. BlackRock Inc. lifted its position in NeoPhotonics by 2.8% during the 4th quarter. BlackRock Inc. now owns 2,347,762 shares of the semiconductor company’s stock worth $15,212,000 after acquiring an additional 63,750 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NeoPhotonics by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 146,472 shares of the semiconductor company’s stock worth $949,000 after acquiring an additional 8,130 shares in the last quarter. GSA Capital Partners LLP acquired a new position in NeoPhotonics during the 4th quarter worth approximately $229,000. Finally, Northern Trust Corp lifted its position in NeoPhotonics by 1.3% during the 4th quarter. Northern Trust Corp now owns 377,453 shares of the semiconductor company’s stock worth $2,445,000 after acquiring an additional 4,770 shares in the last quarter. 78.35% of the stock is currently owned by institutional investors and hedge funds.
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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