NeoPhotonics (NPTN) Receives “Strong-Buy” Rating from Needham & Company LLC
NeoPhotonics (NYSE:NPTN)‘s stock had its “strong-buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Friday, MarketBeat.com reports. They presently have a $9.00 target price on the semiconductor company’s stock, up from their prior target price of $8.00. Needham & Company LLC’s target price points to a potential upside of 41.96% from the stock’s current price.
Several other brokerages have also commented on NPTN. B. Riley raised their price objective on shares of NeoPhotonics from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Friday. Zacks Investment Research lowered shares of NeoPhotonics from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. DA Davidson set a $7.00 price objective on shares of NeoPhotonics and gave the stock a “hold” rating in a report on Thursday, December 7th. Rosenblatt Securities set a $13.00 price objective on shares of NeoPhotonics and gave the stock a “buy” rating in a report on Sunday, February 25th. Finally, ValuEngine raised shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.86.
Shares of NeoPhotonics (NYSE:NPTN) opened at $6.34 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. NeoPhotonics has a 1-year low of $4.56 and a 1-year high of $10.30. The company has a market cap of $268.95, a PE ratio of -5.15 and a beta of 1.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates bought a new position in shares of NeoPhotonics during the fourth quarter valued at approximately $160,000. Deutsche Bank AG increased its stake in shares of NeoPhotonics by 236.4% during the fourth quarter. Deutsche Bank AG now owns 178,909 shares of the semiconductor company’s stock valued at $1,175,000 after purchasing an additional 125,720 shares in the last quarter. Needham Investment Management LLC increased its stake in shares of NeoPhotonics by 16.7% during the fourth quarter. Needham Investment Management LLC now owns 210,000 shares of the semiconductor company’s stock valued at $1,382,000 after purchasing an additional 30,000 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of NeoPhotonics during the fourth quarter valued at approximately $195,000. Finally, Virtu Financial LLC bought a new position in shares of NeoPhotonics during the fourth quarter valued at approximately $131,000. 77.92% of the stock is owned by institutional investors and hedge funds.
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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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