The NeoPhotonics Corp. (NPTN) Given “Overweight” Rating at Piper Jaffray Cos.

The NeoPhotonics Corp. (NPTN) Given “Overweight” Rating at Piper Jaffray Cos.

NeoPhotonics Corp. (NYSE:NPTN)‘s stock had its “overweight” rating restated by stock analysts at Piper Jaffray Cos. in a report issued on Friday. They presently have a $20.00 price target on the stock, up from their previous price target of $17.00. Piper Jaffray Cos.’s price target indicates a potential upside of 23.08% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of NeoPhotonics Corp. in a report on Thursday, August 18th. TheStreet raised NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. B. Riley reissued a “neutral” rating and issued a $12.75 price objective on shares of NeoPhotonics Corp. in a report on Tuesday, August 9th. Finally, Craig Hallum reissued a “buy” rating on shares of NeoPhotonics Corp. in a report on Sunday, July 17th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. NeoPhotonics Corp. presently has an average rating of “Buy” and a consensus price target of $15.71.

NeoPhotonics Corp. (NYSE:NPTN) traded down 0.37% during mid-day trading on Friday, hitting $16.25. The company had a trading volume of 522,656 shares. The company has a 50-day moving average price of $16.28 and a 200 day moving average price of $12.64. The firm has a market capitalization of $679.49 million, a P/E ratio of 106.91 and a beta of 0.77. NeoPhotonics Corp. has a 12 month low of $6.68 and a 12 month high of $18.51.

NeoPhotonics Corp. (NYSE:NPTN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. NeoPhotonics Corp. had a return on equity of 7.67% and a net margin of 1.82%. The company earned $99.13 million during the quarter, compared to analysts’ expectations of $101.82 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that NeoPhotonics Corp. will post $0.68 EPS for the current fiscal year.

In other news, SVP Benjamin Lee Sitler sold 5,669 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $12.00, for a total value of $68,028.00. Following the completion of the sale, the senior vice president now directly owns 68,009 shares in the company, valued at $816,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Storrs Jenks sold 22,666 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $15.04, for a total value of $340,896.64. Following the completion of the sale, the chief executive officer now owns 193,157 shares of the company’s stock, valued at $2,905,081.28. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in NeoPhotonics Corp. by 8.5% in the second quarter. American International Group Inc. now owns 17,747 shares of the company’s stock worth $169,000 after buying an additional 1,395 shares during the period. Princeton Capital Management Inc. raised its stake in NeoPhotonics Corp. by 2.2% in the second quarter. Princeton Capital Management Inc. now owns 71,150 shares of the company’s stock worth $678,000 after buying an additional 1,525 shares during the period. California State Teachers Retirement System raised its stake in NeoPhotonics Corp. by 3.0% in the second quarter. California State Teachers Retirement System now owns 64,642 shares of the company’s stock worth $616,000 after buying an additional 1,908 shares during the period. JPMorgan Chase & Co. raised its stake in NeoPhotonics Corp. by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 131,100 shares of the company’s stock worth $1,250,000 after buying an additional 2,170 shares during the period. Finally, Geduld E E raised its stake in NeoPhotonics Corp. by 7.7% in the second quarter. Geduld E E now owns 35,000 shares of the company’s stock worth $334,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

NeoPhotonics Corp. Company Profile

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