NeoPhotonics (NYSE:NPTN) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

NeoPhotonics (NYSE:NPTN) posted its quarterly earnings data on Monday. The semiconductor company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.12, Bloomberg Earnings reports. The business had revenue of $81.69 million during the quarter, compared to the consensus estimate of $76.91 million. NeoPhotonics had a negative net margin of 11.85% and a negative return on equity of 17.55%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. NeoPhotonics updated its Q3 2019 guidance to $-0.03-0.07 EPS and its Q3 guidance to (0.03)-0.07 EPS.

NeoPhotonics stock traded up $0.04 during midday trading on Monday, hitting $4.32. The company’s stock had a trading volume of 1,668,500 shares, compared to its average volume of 919,078. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.98 and a quick ratio of 1.51. The business’s 50-day simple moving average is $4.49. NeoPhotonics has a 12 month low of $3.26 and a 12 month high of $9.48. The firm has a market capitalization of $198.91 million, a P/E ratio of -5.84 and a beta of 1.60.

In other NeoPhotonics news, COO Chiyue Cheung sold 12,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $5.79, for a total value of $69,480.00. Following the sale, the chief operating officer now directly owns 12,000 shares in the company, valued at $69,480. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elizabeth Lynne Eby purchased 50,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $3.57 per share, for a total transaction of $178,500.00. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in NeoPhotonics by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,656 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 1,560 shares in the last quarter. Quantamental Technologies LLC raised its holdings in NeoPhotonics by 49.5% during the 1st quarter. Quantamental Technologies LLC now owns 5,440 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,800 shares during the period. Northern Trust Corp raised its holdings in NeoPhotonics by 1.3% during the 4th quarter. Northern Trust Corp now owns 377,453 shares of the semiconductor company’s stock worth $2,445,000 after buying an additional 4,770 shares during the period. Macquarie Group Ltd. acquired a new stake in NeoPhotonics during the 4th quarter worth about $34,000. Finally, BNP Paribas Arbitrage SA raised its holdings in NeoPhotonics by 413.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,485 shares of the semiconductor company’s stock worth $47,000 after buying an additional 6,028 shares during the period. Hedge funds and other institutional investors own 77.47% of the company’s stock.

NPTN has been the subject of several research analyst reports. TheStreet downgraded shares of NeoPhotonics from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. MKM Partners reaffirmed a “neutral” rating and issued a $4.50 price objective (down previously from $9.00) on shares of NeoPhotonics in a report on Friday, May 17th. Needham & Company LLC downgraded shares of NeoPhotonics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Craig Hallum set a $6.00 price objective on shares of NeoPhotonics and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, ValuEngine downgraded shares of NeoPhotonics from a “buy” rating to a “hold” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $7.53.

About NeoPhotonics

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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Earnings History for NeoPhotonics (NYSE:NPTN)

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