Needham & Company LLC Boosts NeoPhotonics Corporation (NPTN) Price Target to $11.00

NeoPhotonics Corporation (NYSE:NPTN) had its target price lifted by Needham & Company LLC from $8.00 to $11.00 in a report released on Monday, Marketbeat Ratings reports. They currently have a strong-buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on NPTN. B. Riley reaffirmed a neutral rating and set a $6.25 price target on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. ValuEngine raised shares of NeoPhotonics Corporation from a strong sell rating to a sell rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of NeoPhotonics Corporation from a sell rating to a hold rating in a research note on Tuesday, August 15th. Piper Jaffray Companies reaffirmed a buy rating and set a $8.50 price target on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. Finally, Craig Hallum reaffirmed a buy rating and set a $8.50 price target on shares of NeoPhotonics Corporation in a research note on Friday, October 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. NeoPhotonics Corporation currently has a consensus rating of Hold and an average target price of $8.92.

NeoPhotonics Corporation (NPTN) opened at 4.81 on Monday. NeoPhotonics Corporation has a 12 month low of $4.72 and a 12 month high of $15.97. The stock’s market capitalization is $209.90 million. The company’s 50-day moving average is $5.80 and its 200-day moving average is $7.52.

NeoPhotonics Corporation (NYSE:NPTN) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The business had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $71.11 million. During the same period in the prior year, the business earned $0.15 EPS. NeoPhotonics Corporation’s revenue for the quarter was down 26.1% compared to the same quarter last year. Equities analysts anticipate that NeoPhotonics Corporation will post ($0.84) earnings per share for the current year.

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In other news, Director Michael J. Sophie sold 4,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $8.45, for a total value of $33,800.00. Following the completion of the sale, the director now owns 18,318 shares of the company’s stock, valued at approximately $154,787.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Benjamin Lee Sitler sold 33,400 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $8.44, for a total value of $281,896.00. Following the completion of the sale, the senior vice president now directly owns 84,711 shares of the company’s stock, valued at approximately $714,960.84. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPTN. Quentec Asset Management LLC boosted its holdings in shares of NeoPhotonics Corporation by 78.9% in the 2nd quarter. Quentec Asset Management LLC now owns 1,934,017 shares of the semiconductor company’s stock valued at $14,931,000 after buying an additional 853,181 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NeoPhotonics Corporation by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after buying an additional 760,110 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in shares of NeoPhotonics Corporation in the 2nd quarter valued at approximately $4,630,000. Marshall Wace North America L.P. boosted its holdings in shares of NeoPhotonics Corporation by 1,394.9% in the 2nd quarter. Marshall Wace North America L.P. now owns 613,493 shares of the semiconductor company’s stock valued at $4,908,000 after buying an additional 572,453 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of NeoPhotonics Corporation by 18.9% in the 1st quarter. Wellington Management Group LLP now owns 2,767,194 shares of the semiconductor company’s stock valued at $24,933,000 after buying an additional 440,640 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

NeoPhotonics Corporation Company Profile

NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.

Analyst Recommendations for NeoPhotonics Corporation (NYSE:NPTN)

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