NeoPhotonics (NYSE:NPTN) Price Target Raised to $14.00

NeoPhotonics (NYSE:NPTN) had its price target upped by investment analysts at Rosenblatt Securities from $7.00 to $14.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 22.91% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Northland Securities reissued a “buy” rating and issued a $18.00 target price on shares of NeoPhotonics in a report on Monday. Needham & Company LLC raised their price objective on shares of NeoPhotonics from $9.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, January 13th. B. Riley lifted their price target on shares of NeoPhotonics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, January 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.13.

Shares of NYSE:NPTN traded down $0.76 on Tuesday, hitting $11.39. The company had a trading volume of 2,460 shares, compared to its average volume of 788,720. The company has a current ratio of 2.36, a quick ratio of 1.93 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $11.55 and a 200 day moving average price of $8.47. NeoPhotonics has a 1-year low of $4.65 and a 1-year high of $14.14. The stock has a market cap of $571.16 million, a price-to-earnings ratio of 67.00 and a beta of 1.24.

In other news, Director Michael J. Sophie sold 34,063 shares of NeoPhotonics stock in a transaction on Friday, January 15th. The stock was sold at an average price of $11.00, for a total value of $374,693.00. Following the transaction, the director now directly owns 38,523 shares in the company, valued at approximately $423,753. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chiyue Cheung sold 13,000 shares of the business’s stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $12.57, for a total value of $163,410.00. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $768,593 in the last quarter. 4.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of NeoPhotonics by 1.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,160,526 shares of the semiconductor company’s stock valued at $10,550,000 after buying an additional 17,006 shares during the period. Truvestments Capital LLC acquired a new position in shares of NeoPhotonics during the fourth quarter valued at approximately $39,000. Squarepoint Ops LLC purchased a new stake in shares of NeoPhotonics in the fourth quarter valued at approximately $546,000. Anqa Management LLC grew its position in shares of NeoPhotonics by 11.5% in the fourth quarter. Anqa Management LLC now owns 836,000 shares of the semiconductor company’s stock valued at $7,599,000 after purchasing an additional 85,900 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of NeoPhotonics by 3.7% in the fourth quarter. Nuveen Asset Management LLC now owns 540,703 shares of the semiconductor company’s stock valued at $4,915,000 after purchasing an additional 19,105 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

NeoPhotonics Company Profile

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks worldwide. It offers high speed products, including transmitter, receiver, and switching products for 100G and optical transmission applications over distances of 2 to 2,000 kilometers; ultra-narrow linewidth tunable lasers that generate ultra-pure wavelength or color for coherent transmission; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent optical signals.

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