Analysts Set NeoPhotonics Corp (NPTN) Price Target at $8.88

Shares of NeoPhotonics Corp (NYSE:NPTN) have received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.88.

A number of research analysts have issued reports on NPTN shares. Raymond James Financial reduced their price target on NeoPhotonics from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, August 24th. BidaskClub lowered NeoPhotonics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Craig Hallum reiterated a “buy” rating and set a $8.50 price target on shares of NeoPhotonics in a research report on Friday, October 6th. Needham & Company LLC boosted their price target on NeoPhotonics from $8.00 to $11.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 9th. Finally, UBS lowered NeoPhotonics from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 5th.

Several institutional investors have recently made changes to their positions in NPTN. Parametric Portfolio Associates LLC acquired a new stake in shares of NeoPhotonics in the first quarter valued at $131,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of NeoPhotonics by 6.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 113,822 shares of the semiconductor company’s stock valued at $1,026,000 after buying an additional 6,498 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of NeoPhotonics by 551.8% in the first quarter. Goldman Sachs Group Inc. now owns 96,566 shares of the semiconductor company’s stock valued at $870,000 after buying an additional 81,750 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of NeoPhotonics during the second quarter valued at $816,000. Finally, Rhumbline Advisers lifted its holdings in shares of NeoPhotonics by 8.4% during the second quarter. Rhumbline Advisers now owns 38,504 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 81.06% of the company’s stock.

Shares of NeoPhotonics (NPTN) remained flat at $$6.57 during mid-day trading on Thursday. The company’s stock had a trading volume of 604,976 shares, compared to its average volume of 1,232,338. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85. NeoPhotonics has a twelve month low of $4.56 and a twelve month high of $14.00.

NeoPhotonics (NYSE:NPTN) last announced its quarterly earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.09. NeoPhotonics had a negative return on equity of 13.61% and a negative net margin of 11.37%. The company had revenue of $71.12 million during the quarter, compared to analyst estimates of $69.94 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was down 31.2% on a year-over-year basis. sell-side analysts expect that NeoPhotonics will post -0.99 earnings per share for the current fiscal year.

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NeoPhotonics 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 (NYSE:NPTN)

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