MKM Partners reiterated their neutral rating on shares of NeoPhotonics (NYSE:NPTN) in a research note released on Friday morning, BenzingaRatingsTable reports. MKM Partners currently has a $4.50 target price on the semiconductor company’s stock, down from their prior target price of $9.00.
A number of other research firms also recently weighed in on NPTN. Rosenblatt Securities restated a buy rating on shares of NeoPhotonics in a research note on Wednesday, February 27th. Zacks Investment Research downgraded NeoPhotonics from a buy rating to a hold rating in a research note on Friday, February 15th. ValuEngine upgraded NeoPhotonics from a buy rating to a strong-buy rating in a research note on Saturday, February 2nd. Finally, TheStreet upgraded NeoPhotonics from a d+ rating to a c rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. NeoPhotonics currently has a consensus rating of Hold and an average price target of $8.41.
NPTN stock opened at $3.90 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.98 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $178.46 million, a price-to-earnings ratio of -5.27 and a beta of 1.26. NeoPhotonics has a twelve month low of $3.26 and a twelve month high of $9.48.
In other news, COO Chiyue Cheung sold 12,000 shares of NeoPhotonics stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $5.79, for a total transaction of $69,480.00. Following the completion of the transaction, the chief operating officer now directly owns 12,000 shares in the company, valued at approximately $69,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy Storrs Jenks sold 16,999 shares of NeoPhotonics stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $6.62, for a total value of $112,533.38. The disclosure for this sale can be found here. Insiders own 16.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in NeoPhotonics by 11.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,656 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 1,560 shares during the period. Quantamental Technologies LLC boosted its stake in NeoPhotonics by 49.5% in the 1st quarter. Quantamental Technologies LLC now owns 5,440 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 1,800 shares during the period. The Manufacturers Life Insurance Company boosted its stake in NeoPhotonics by 8.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,892 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 1,974 shares during the period. Northern Trust Corp boosted its stake in NeoPhotonics by 1.0% in the 1st quarter. Northern Trust Corp now owns 381,195 shares of the semiconductor company’s stock valued at $2,398,000 after purchasing an additional 3,742 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in NeoPhotonics in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 82.03% of the company’s stock.
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.
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