Northland Securities Reiterates Buy Rating for NeoPhotonics (NYSE:NPTN)

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NeoPhotonics (NYSE:NPTN)‘s stock had its “buy” rating reissued by equities research analysts at Northland Securities in a note issued to investors on Tuesday, AnalystRatings.com reports.

The analysts wrote, “We believe any distress element discount should come out of the shares given the positive EBITDA outlook and while concerns about Huawei/China exposure will persist, with Huawei concentration down near 30% of revs and the strategic nature of coherent laser tech argue for a more normalized valuation. Key Points We reiterate our OP rating and $9.75 PT, which represents 1.2X our significantly increased CY20 revenue ests of $350M, which contemplates continued double digit growth in ex revs and a lower Huawei (sub $25M/Q vs the recent $35-40M/Q) run rate.””

NPTN has been the topic of several other research reports. Craig Hallum set a $6.00 target price on NeoPhotonics and gave the company a “buy” rating in a report on Friday, May 24th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of NeoPhotonics in a report on Tuesday, July 16th. B. Riley raised NeoPhotonics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $7.25 to $5.50 in a report on Monday, May 20th. Needham & Company LLC lowered NeoPhotonics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, TheStreet lowered NeoPhotonics from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $7.89.

NYSE:NPTN opened at $6.21 on Tuesday. The stock has a market capitalization of $284.40 million, a price-to-earnings ratio of -8.39 and a beta of 1.61. The company has a fifty day simple moving average of $4.55. The company has a quick ratio of 1.51, a current ratio of 1.98 and a debt-to-equity ratio of 0.45. NeoPhotonics has a 12 month low of $3.26 and a 12 month high of $9.48.

NeoPhotonics (NYSE:NPTN) last posted its earnings results on Monday, August 5th. The semiconductor company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. The firm had revenue of $81.69 million for the quarter, compared to analyst estimates of $76.91 million. NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. NeoPhotonics’s revenue for the quarter 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. On average, equities research analysts anticipate that NeoPhotonics will post -0.85 EPS for the current fiscal year.

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

Several hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC boosted its stake in shares of NeoPhotonics by 49.5% during the first 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. Macquarie Group Ltd. acquired a new stake in shares of NeoPhotonics during the fourth quarter worth about $34,000. BNP Paribas Arbitrage SA boosted its stake in shares of NeoPhotonics by 413.7% during the first 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. Stone Ridge Asset Management LLC acquired a new stake in shares of NeoPhotonics during the second quarter worth about $72,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of NeoPhotonics during the fourth quarter worth about $73,000. 77.47% 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. 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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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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