NeoPhotonics (NPTN) Rating Lowered to Hold at Zacks Investment Research

NeoPhotonics (NYSE:NPTN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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 analysts have also recently weighed in on NPTN. TheStreet raised shares of NeoPhotonics from a “d+” rating to a “c” rating in a research note on Friday, March 1st. MKM Partners started coverage on shares of NeoPhotonics in a research note on Monday, April 29th. They set a “buy” rating and a $9.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating on shares of NeoPhotonics in a research note on Wednesday, February 27th. ValuEngine raised shares of NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. Finally, Northland Securities reaffirmed a “buy” rating and set a $11.00 price objective on shares of NeoPhotonics in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.31.

NYSE:NPTN opened at $6.03 on Friday. NeoPhotonics has a 12-month low of $5.65 and a 12-month high of $9.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.98 and a quick ratio of 1.56. The stock has a market capitalization of $288.61 million, a P/E ratio of -8.15 and a beta of 1.26.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08). NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. The business had revenue of $79.40 million during the quarter, compared to analyst estimates of $79.99 million. During the same period last year, the company earned ($0.33) EPS. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts predict that NeoPhotonics will post -0.43 EPS for the current fiscal year.

In other NeoPhotonics news, CEO Timothy Storrs Jenks sold 16,999 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $6.62, for a total transaction of $112,533.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPTN. Bank of New York Mellon Corp boosted its position in shares of NeoPhotonics by 6.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 138,342 shares of the semiconductor company’s stock valued at $1,148,000 after purchasing an additional 8,948 shares during the period. BlackRock Inc. boosted its position in shares of NeoPhotonics by 2.5% in the 3rd quarter. BlackRock Inc. now owns 2,284,012 shares of the semiconductor company’s stock valued at $18,958,000 after purchasing an additional 56,063 shares during the period. JPMorgan Chase & Co. boosted its position in shares of NeoPhotonics by 1,275.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,682 shares of the semiconductor company’s stock valued at $1,267,000 after purchasing an additional 141,581 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of NeoPhotonics in the 3rd quarter valued at about $217,000. Finally, Morgan Stanley boosted its position in shares of NeoPhotonics by 447.5% in the 3rd quarter. Morgan Stanley now owns 441,476 shares of the semiconductor company’s stock valued at $3,665,000 after purchasing an additional 360,836 shares during the period. 81.80% of the stock is currently owned by institutional investors and hedge funds.

NeoPhotonics Company Profile

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.

Further Reading: Capital gains and your 401(k) or IRA

Get a free copy of the Zacks research report on NeoPhotonics (NPTN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

Receive News & Ratings for NeoPhotonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoPhotonics and related companies with MarketBeat.com's FREE daily email newsletter.