Zacks Investment Research downgraded shares of NeoPhotonics (NYSE:NPTN) from a buy rating to a hold rating in a research note released on Friday.
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. “
Other analysts have also recently issued reports about the stock. B. Riley cut shares of NeoPhotonics from a buy rating to a neutral rating and decreased their price target for the stock from $11.00 to $8.25 in a research report on Thursday, December 6th. Rosenblatt Securities set a $13.00 price objective on shares of NeoPhotonics and gave the company a buy rating in a research report on Monday, December 10th. Craig Hallum set a $10.00 price objective on shares of NeoPhotonics and gave the company a buy rating in a research report on Monday, November 5th. Piper Jaffray Companies upped their price objective on shares of NeoPhotonics from $7.00 to $8.00 and gave the company a neutral rating in a research report on Monday, November 5th. Finally, ValuEngine cut shares of NeoPhotonics from a strong-buy rating to a buy rating in a research report on Wednesday, January 2nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $9.34.
Shares of NYSE NPTN opened at $7.20 on Friday. NeoPhotonics has a 52-week low of $5.00 and a 52-week high of $9.48. The firm has a market cap of $331.55 million, a PE ratio of -6.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.04 and a quick ratio of 1.51.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NPTN. Boston Partners raised its stake in NeoPhotonics by 103.5% during the fourth quarter. Boston Partners now owns 2,742,980 shares of the semiconductor company’s stock worth $17,775,000 after acquiring an additional 1,395,000 shares during the period. Millennium Management LLC acquired a new stake in NeoPhotonics during the second quarter worth about $2,567,000. Morgan Stanley raised its stake in NeoPhotonics by 447.5% during the third quarter. Morgan Stanley now owns 441,476 shares of the semiconductor company’s stock worth $3,665,000 after acquiring an additional 360,836 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of NeoPhotonics in the third quarter valued at approximately $2,438,000. Finally, BlackRock Inc. increased its stake in shares of NeoPhotonics by 10.6% in the second quarter. BlackRock Inc. now owns 2,227,949 shares of the semiconductor company’s stock valued at $13,880,000 after purchasing an additional 213,336 shares during the period. Hedge funds and other institutional investors own 75.38% 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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