Chicago Equity Partners LLC reduced its stake in NeoPhotonics Corp. (NYSE:NPTN) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,800 shares of the company’s stock after selling 1,820 shares during the period. Chicago Equity Partners LLC’s holdings in NeoPhotonics Corp. were worth $1,475,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NPTN. Northpointe Capital LLC increased its position in NeoPhotonics Corp. by 383.9% in the second quarter. Northpointe Capital LLC now owns 1,580,654 shares of the company’s stock valued at $15,064,000 after buying an additional 1,253,978 shares during the last quarter. Wellington Management Group LLP acquired a new position in NeoPhotonics Corp. during the first quarter valued at $11,871,000. AlphaOne Investment Services LLC acquired a new position in NeoPhotonics Corp. during the first quarter valued at $3,768,000. Bogle Investment Management L P DE increased its position in NeoPhotonics Corp. by 66.7% in the first quarter. Bogle Investment Management L P DE now owns 577,363 shares of the company’s stock valued at $8,106,000 after buying an additional 231,078 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in NeoPhotonics Corp. during the first quarter valued at $1,811,000. Institutional investors and hedge funds own 78.98% of the company’s stock.
NeoPhotonics Corp. (NYSE:NPTN) traded up 1.06% during trading on Wednesday, reaching $15.19. 512,387 shares of the company traded hands. The firm has a 50-day moving average price of $16.30 and a 200-day moving average price of $12.74. NeoPhotonics Corp. has a 52 week low of $7.21 and a 52 week high of $18.51. The company has a market capitalization of $635.17 million, a P/E ratio of 99.93 and a beta of 0.77.
NeoPhotonics Corp. (NYSE:NPTN) last released its earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $99.13 million for the quarter, compared to the consensus estimate of $101.82 million. NeoPhotonics Corp. had a net margin of 1.82% and a return on equity of 7.67%. NeoPhotonics Corp.’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Analysts forecast that NeoPhotonics Corp. will post $0.68 earnings per share for the current fiscal year.
Several research analysts have weighed in on NPTN shares. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of NeoPhotonics Corp. in a research report on Thursday, August 18th. TheStreet raised shares of NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $20.00 price objective (up from $17.00) on shares of NeoPhotonics Corp. in a research note on Friday, October 7th. B. Riley reissued a “neutral” rating and issued a $12.75 price objective on shares of NeoPhotonics Corp. in a research note on Tuesday, August 9th. Finally, Craig Hallum reissued a “buy” rating on shares of NeoPhotonics Corp. in a research note on Sunday, July 17th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.71.
In other NeoPhotonics Corp. news, CFO Ray Wallin sold 10,000 shares of NeoPhotonics Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $14.55, for a total transaction of $145,500.00. Following the completion of the sale, the chief financial officer now directly owns 28,500 shares in the company, valued at approximately $414,675. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy Storrs Jenks sold 22,666 shares of NeoPhotonics Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $15.04, for a total transaction of $340,896.64. Following the sale, the chief executive officer now owns 193,157 shares of the company’s stock, valued at $2,905,081.28. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.
NeoPhotonics Corp. Company Profile
NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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