B. Riley Increases NeoPhotonics (NPTN) Price Target to $11.00

NeoPhotonics (NYSE:NPTN) had its target price hoisted by B. Riley from $10.00 to $11.00 in a research note issued to investors on Monday. B. Riley currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for NeoPhotonics’ Q4 2018 earnings at ($0.10) EPS and FY2018 earnings at ($0.82) EPS.

Other equities research analysts have also recently issued reports about the stock. Craig Hallum set a $10.00 price target on shares of NeoPhotonics and gave the stock a buy rating in a research note on Monday. ValuEngine cut shares of NeoPhotonics from a strong-buy rating to a buy rating in a research note on Monday, September 17th. Zacks Investment Research raised shares of NeoPhotonics from a hold rating to a buy rating and set a $10.00 price target on the stock in a research note on Saturday, August 11th. Rosenblatt Securities set a $13.00 price target on shares of NeoPhotonics and gave the stock a buy rating in a research note on Saturday, July 28th. Finally, DA Davidson raised their price target on shares of NeoPhotonics from $6.00 to $7.50 and gave the stock a neutral rating in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $9.88.

NYSE:NPTN traded down $0.19 during mid-day trading on Monday, hitting $8.71. 3,887 shares of the company’s stock traded hands, compared to its average volume of 689,438. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.31. NeoPhotonics has a 1 year low of $4.95 and a 1 year high of $9.48. The company has a market capitalization of $395.04 million, a P/E ratio of -7.89 and a beta of 1.12.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings results on Friday, November 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.14. NeoPhotonics had a negative net margin of 16.60% and a negative return on equity of 26.53%. The company had revenue of $81.75 million for the quarter, compared to analysts’ expectations of $82.60 million. During the same period last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts predict that NeoPhotonics will post -0.87 earnings per share for the current year.

In related news, VP Yuen Wupen sold 22,877 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $8.91, for a total value of $203,834.07. Following the sale, the vice president now directly owns 48,265 shares of the company’s stock, valued at $430,041.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chiyue Cheung sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $8.11, for a total transaction of $81,100.00. Following the completion of the sale, the chief operating officer now directly owns 5,000 shares in the company, valued at $40,550. The disclosure for this sale can be found here. Insiders have sold a total of 33,877 shares of company stock worth $292,984 over the last ninety days. 16.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pier 88 Investment Partners LLC boosted its position in shares of NeoPhotonics by 43.0% in the second quarter. Pier 88 Investment Partners LLC now owns 147,726 shares of the semiconductor company’s stock worth $920,000 after acquiring an additional 44,455 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NeoPhotonics in the second quarter worth approximately $244,000. SG Americas Securities LLC acquired a new stake in shares of NeoPhotonics in the second quarter worth approximately $471,000. State of Wisconsin Investment Board lifted its position in NeoPhotonics by 14.2% during the second quarter. State of Wisconsin Investment Board now owns 250,000 shares of the semiconductor company’s stock valued at $1,558,000 after buying an additional 31,000 shares in the last quarter. Finally, Needham Investment Management LLC lifted its position in NeoPhotonics by 11.4% during the second quarter. Needham Investment Management LLC now owns 245,000 shares of the semiconductor company’s stock valued at $1,526,000 after buying an additional 25,000 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

About NeoPhotonics

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.

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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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