According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “
A number of other equities research analysts have also recently issued reports on NPTN. ValuEngine cut shares of NeoPhotonics from a buy rating to a hold rating in a report on Thursday, August 1st. MKM Partners reissued a neutral rating and set a $4.50 target price (down previously from $9.00) on shares of NeoPhotonics in a report on Friday, May 17th. TheStreet cut shares of NeoPhotonics from a c- rating to a d+ rating in a report on Tuesday, May 21st. Rosenblatt Securities reissued a buy rating and set a $10.00 target price on shares of NeoPhotonics in a report on Tuesday, July 16th. Finally, Craig Hallum set a $6.00 target price on shares of NeoPhotonics and gave the company a buy rating in a report on Friday, May 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $7.53.
NeoPhotonics (NYSE:NPTN) last issued its earnings results on Monday, August 5th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. NeoPhotonics had a negative net margin of 11.85% and a negative return on equity of 17.55%. The business had revenue of $81.69 million for the quarter, compared to analysts’ expectations of $76.91 million. During the same quarter in the previous year, the firm posted ($0.19) EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts forecast that NeoPhotonics will post -0.85 EPS for the current fiscal year.
In other news, CFO Elizabeth Lynne Eby purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $3.57 per share, with a total value of $178,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chiyue Cheung sold 12,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $5.79, for a total transaction of $69,480.00. Following the completion of the transaction, the chief operating officer now directly owns 12,000 shares in the company, valued at approximately $69,480. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company’s stock.
A number of large investors have recently made changes to their positions in NPTN. Paradigm Capital Management Inc. NY purchased a new position in NeoPhotonics in the first quarter worth $8,262,000. JPMorgan Chase & Co. grew its position in NeoPhotonics by 136.0% in the first quarter. JPMorgan Chase & Co. now owns 962,190 shares of the semiconductor company’s stock worth $6,053,000 after acquiring an additional 554,494 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new position in NeoPhotonics in the first quarter worth $2,166,000. Teacher Retirement System of Texas purchased a new position in NeoPhotonics in the first quarter worth $1,266,000. Finally, AlpInvest Partners B.V. purchased a new position in NeoPhotonics in the first quarter worth $1,255,000. Institutional investors own 77.47% of the company’s stock.
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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