NeoPhotonics (NPTN) Given a $13.00 Price Target at Rosenblatt Securities
Rosenblatt Securities set a $13.00 target price on NeoPhotonics (NYSE:NPTN) in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the semiconductor company’s stock.
“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.”,” the firm’s analyst commented.
Other analysts have also recently issued reports about the stock. B. Riley reiterated a hold rating and issued a $5.25 target price on shares of NeoPhotonics in a research note on Friday, October 6th. Raymond James Financial reduced their target price on shares of NeoPhotonics from $8.00 to $7.00 and set an outperform rating for the company in a research note on Thursday, August 24th. BidaskClub raised shares of NeoPhotonics from a strong sell rating to a sell rating in a research report on Wednesday, September 20th. Needham & Company LLC dropped their price target on shares of NeoPhotonics from $13.00 to $11.00 and set a strong-buy rating on the stock in a research report on Monday, September 18th. Finally, UBS lowered shares of NeoPhotonics from an outperform rating to a market perform rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NeoPhotonics presently has an average rating of Hold and a consensus price target of $8.67.
NeoPhotonics (NYSE NPTN) traded down $0.16 during midday trading on Tuesday, reaching $6.80. 701,700 shares of the company’s stock were exchanged, compared to its average volume of 1,298,986. 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 $12.93.
NeoPhotonics (NYSE:NPTN) last posted its earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.09. The firm had revenue of $71.12 million during the quarter, compared to analysts’ expectations of $69.94 million. NeoPhotonics had a negative net margin of 11.37% and a negative return on equity of 13.61%. The company’s revenue was down 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. analysts anticipate that NeoPhotonics will post -0.99 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in NeoPhotonics by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 96,999 shares of the semiconductor company’s stock worth $749,000 after acquiring an additional 433 shares during the period. Schwab Charles Investment Management Inc. increased its position in NeoPhotonics by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 114,544 shares of the semiconductor company’s stock worth $885,000 after acquiring an additional 722 shares during the period. Teachers Advisors LLC increased its position in NeoPhotonics by 5.1% during the second quarter. Teachers Advisors LLC now owns 55,616 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 2,677 shares during the period. Voya Investment Management LLC increased its position in NeoPhotonics by 20.0% during the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 2,749 shares during the period. Finally, Rhumbline Advisers increased its position in NeoPhotonics by 8.4% during the second quarter. Rhumbline Advisers now owns 38,504 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 3,000 shares during the period. 81.06% of the stock is currently owned by institutional investors.
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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