NeoPhotonics Corp. (NYSE:NPTN)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos. in a report released 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 points to a potential upside of 23.08% from the stock’s previous close.
NPTN has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price 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 target price 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 assigned a buy rating and two have assigned a strong buy rating to the stock. NeoPhotonics Corp. presently has an average rating of “Buy” and a consensus target price of $15.71.
NeoPhotonics Corp. (NYSE:NPTN) traded down 0.37% on Friday, hitting $16.25. The stock had a trading volume of 522,856 shares. NeoPhotonics Corp. has a one year low of $6.68 and a one year high of $18.51. The stock’s 50 day moving average is $16.28 and its 200 day moving average is $12.64. The stock has a market cap of $679.49 million, a price-to-earnings ratio of 106.91 and a beta of 0.77.
NeoPhotonics Corp. (NYSE:NPTN) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share 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 firm had revenue of $99.13 million for the quarter, compared to analyst estimates of $101.82 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. NeoPhotonics Corp.’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that NeoPhotonics Corp. will post $0.68 earnings per share for the current year.
In related news, CEO Timothy Storrs Jenks sold 22,666 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $15.04, for a total transaction of $340,896.64. Following the transaction, the chief executive officer now directly owns 193,157 shares in the company, valued at $2,905,081.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ray Wallin sold 10,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $14.55, for a total value of $145,500.00. Following the transaction, the chief financial officer now owns 28,500 shares in the company, valued at $414,675. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $103,000. Quantbot Technologies LP raised its stake in shares of NeoPhotonics Corp. by 132.4% in the second quarter. Quantbot Technologies LP now owns 11,149 shares of the company’s stock valued at $106,000 after buying an additional 6,352 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $124,000. BlackRock Inc. raised its stake in shares of NeoPhotonics Corp. by 462.4% in the second quarter. BlackRock Inc. now owns 15,517 shares of the company’s stock valued at $148,000 after buying an additional 12,758 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of NeoPhotonics Corp. by 8.5% in the second quarter. American International Group Inc. now owns 17,747 shares of the company’s stock valued at $169,000 after buying an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.
About NeoPhotonics Corp.