NeoPhotonics Corporation (NPTN) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its stake in shares of NeoPhotonics Corporation (NYSE:NPTN) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,822 shares of the semiconductor company’s stock after buying an additional 6,498 shares during the period. Schwab Charles Investment Management Inc. owned about 0.27% of NeoPhotonics Corporation worth $1,026,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Argent Capital Management LLC raised its position in shares of NeoPhotonics Corporation by 2.4% in the first quarter. Argent Capital Management LLC now owns 249,425 shares of the semiconductor company’s stock worth $2,247,000 after buying an additional 5,800 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of NeoPhotonics Corporation during the first quarter worth $581,000. Granite Point Capital Management L.P. purchased a new position in shares of NeoPhotonics Corporation during the first quarter worth $933,000. American International Group Inc. raised its position in shares of NeoPhotonics Corporation by 7.1% in the first quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock worth $171,000 after buying an additional 1,252 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of NeoPhotonics Corporation by 22.9% in the first quarter. Victory Capital Management Inc. now owns 120,564 shares of the semiconductor company’s stock worth $1,086,000 after buying an additional 22,469 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
NeoPhotonics Corporation (NPTN) traded down 0.0017% during midday trading on Thursday, reaching $5.9899. The company had a trading volume of 352,938 shares. NeoPhotonics Corporation has a 12-month low of $5.26 and a 12-month high of $18.51. The company has a 50-day moving average of $7.22 and a 200-day moving average of $8.56. The stock’s market capitalization is $261.39 million.
NeoPhotonics Corporation (NYSE:NPTN) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $71.11 million. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The business’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. On average, analysts predict that NeoPhotonics Corporation will post ($0.60) EPS for the current fiscal year.
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NPTN has been the topic of a number of research reports. B. Riley reaffirmed a “neutral” rating and set a $6.25 target price on shares of NeoPhotonics Corporation in a research report on Tuesday, May 9th. ValuEngine lowered NeoPhotonics Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. BidaskClub lowered NeoPhotonics Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Rosenblatt Securities initiated coverage on NeoPhotonics Corporation in a research report on Thursday, May 25th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Zacks Investment Research lowered NeoPhotonics Corporation from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. NeoPhotonics Corporation presently has a consensus rating of “Hold” and a consensus price target of $9.97.
In other news, COO Chiyue Cheung sold 10,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $7.66, for a total transaction of $76,600.00. Following the completion of the sale, the chief operating officer now owns 10,000 shares in the company, valued at approximately $76,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Benjamin Lee Sitler sold 33,400 shares of the stock in a transaction 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 sale, the senior vice president now owns 84,711 shares of the company’s stock, valued at approximately $714,960.84. The disclosure for this sale can be found here. Insiders have sold a total of 47,400 shares of company stock worth $392,296 in the last ninety days. Insiders own 17.30% of the company’s stock.
About NeoPhotonics Corporation
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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