NeoPhotonics (NYSE:NPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “

Several other research firms have also recently issued reports on NPTN. Craig Hallum reaffirmed a “buy” rating and issued a $8.50 price target on shares of NeoPhotonics in a report on Friday, October 6th. B. Riley reaffirmed a “hold” rating and issued a $5.25 price target on shares of NeoPhotonics in a report on Friday, October 6th. Needham & Company LLC upped their price target on NeoPhotonics from $8.00 to $11.00 and gave the company a “strong-buy” rating in a report on Monday, October 9th. DA Davidson set a $7.00 price objective on shares of NeoPhotonics and gave the stock a “hold” rating in a research report on Thursday, December 7th. Finally, Cowen reiterated a “buy” rating and set a $11.00 price objective on shares of NeoPhotonics in a research report on Sunday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $8.67.

NeoPhotonics (NYSE NPTN) opened at $7.01 on Tuesday. The stock has a market capitalization of $308.06, a price-to-earnings ratio of -8.25 and a beta of 1.29. NeoPhotonics has a twelve month low of $4.56 and a twelve month high of $12.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.09. The company had revenue of $71.12 million for the quarter, compared to analysts’ expectations of $69.94 million. NeoPhotonics had a negative return on equity of 13.61% and a negative net margin of 11.37%. The firm’s revenue was down 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. equities research analysts forecast that NeoPhotonics will post -0.99 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings in shares of NeoPhotonics by 20.0% during the 2nd quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 2,749 shares in the last quarter. Citigroup Inc. grew its holdings in shares of NeoPhotonics by 35.7% during the 2nd quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 4,556 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of NeoPhotonics during the 2nd quarter valued at $159,000. The Manufacturers Life Insurance Company grew its holdings in shares of NeoPhotonics by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock valued at $210,000 after acquiring an additional 3,245 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of NeoPhotonics during the 2nd quarter valued at $234,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.

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About NeoPhotonics

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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