Rosenblatt Securities Raises NeoPhotonics (NYSE:NPTN) Price Target to $14.00

NeoPhotonics (NYSE:NPTN) had its price objective boosted by research analysts at Rosenblatt Securities from $7.00 to $14.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 22.91% from the stock’s previous close.

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

NYSE:NPTN traded down $0.76 during trading hours on Tuesday, reaching $11.39. 2,460 shares of the company were exchanged, compared to its average volume of 788,720. The business has a 50 day moving average of $11.55 and a 200 day moving average of $8.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.36 and a quick ratio of 1.93. NeoPhotonics has a 1-year low of $4.65 and a 1-year high of $14.14. The company has a market capitalization of $571.16 million, a P/E ratio of 67.00 and a beta of 1.24.

In related news, Director Michael J. Sophie sold 34,063 shares of the business’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $11.00, for a total value of $374,693.00. Following the completion of the sale, the director now owns 38,523 shares of the company’s stock, valued at approximately $423,753. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Chiyue Cheung sold 19,500 shares of the business’s stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $11.82, for a total transaction of $230,490.00. Following the completion of the sale, the chief operating officer now directly owns 19,500 shares of the company’s stock, valued at approximately $230,490. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock worth $768,593 over the last 90 days. Company insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of NeoPhotonics by 151.0% in the fourth quarter. Victory Capital Management Inc. now owns 145,011 shares of the semiconductor company’s stock valued at $1,318,000 after acquiring an additional 87,233 shares during the period. Arrowstreet Capital Limited Partnership increased its position in NeoPhotonics by 161.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,068,016 shares of the semiconductor company’s stock worth $6,504,000 after purchasing an additional 659,279 shares in the last quarter. GSA Capital Partners LLP increased its position in NeoPhotonics by 58.2% during the 3rd quarter. GSA Capital Partners LLP now owns 41,378 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 15,230 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in NeoPhotonics by 21.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 517,096 shares of the semiconductor company’s stock worth $3,149,000 after buying an additional 90,006 shares during the last quarter. Finally, AWM Investment Company Inc. boosted its stake in NeoPhotonics by 7.6% in the 3rd quarter. AWM Investment Company Inc. now owns 1,920,722 shares of the semiconductor company’s stock worth $11,697,000 after buying an additional 135,000 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

About NeoPhotonics

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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