NeoPhotonics (NYSE:NPTN) received a $13.00 target price from stock analysts at Rosenblatt Securities in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 86.78% from the stock’s current price.
The analysts wrote, “We believe NPTN’s business is positioned to rebound in 2018 with ICR share increasing significantly at Chinese vendors. China revenues could be up between 5-15% YoY.””
A number of other analysts also recently weighed in on NPTN. Zacks Investment Research upgraded NeoPhotonics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Raymond James Financial reduced their target price on NeoPhotonics from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. BidaskClub upgraded NeoPhotonics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Needham & Company LLC reduced their target price on NeoPhotonics from $13.00 to $11.00 and set a “strong-buy” rating for the company in a research note on Monday, September 18th. Finally, Cowen restated a “buy” rating and issued a $11.00 target price on shares of NeoPhotonics in a research note on Sunday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.67.
NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share 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 firm had revenue of $71.12 million during the quarter, compared to the consensus estimate of $69.94 million. During the same period last year, the business posted $0.06 EPS. The business’s revenue was down 31.2% compared to the same quarter last year. sell-side analysts forecast that NeoPhotonics will post -0.99 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quentec Asset Management LLC lifted its position in shares of NeoPhotonics by 78.9% during the 2nd quarter. Quentec Asset Management LLC now owns 1,934,017 shares of the semiconductor company’s stock worth $14,931,000 after buying an additional 853,181 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NeoPhotonics by 26.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock worth $27,719,000 after buying an additional 760,110 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in shares of NeoPhotonics during the 2nd quarter worth approximately $4,630,000. Marshall Wace North America L.P. lifted its position in shares of NeoPhotonics by 1,394.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 613,493 shares of the semiconductor company’s stock worth $4,908,000 after buying an additional 572,453 shares in the last quarter. Finally, Boston Partners bought a new position in shares of NeoPhotonics during the 3rd quarter worth approximately $1,884,000. 81.06% of the stock is currently owned by institutional investors and hedge funds.
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.
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