NeoPhotonics (NPTN) Shares Up 6.6% Following Insider Buying Activity

NeoPhotonics Corp (NYSE:NPTN) shares shot up 6.6% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $4.03 and last traded at $3.89. 1,368,826 shares changed hands during trading, an increase of 66% from the average session volume of 826,376 shares. The stock had previously closed at $3.65.

Specifically, CFO Elizabeth Lynne Eby acquired 50,000 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy Storrs Jenks sold 16,999 shares of NeoPhotonics stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $6.62, for a total transaction of $112,533.38. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on NPTN. Rosenblatt Securities reaffirmed a “buy” rating on shares of NeoPhotonics in a research note on Wednesday, February 27th. Zacks Investment Research cut shares of NeoPhotonics from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. ValuEngine raised shares of NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. TheStreet raised shares of NeoPhotonics from a “d+” rating to a “c” rating in a research note on Friday, March 1st. Finally, Northland Securities reaffirmed a “buy” rating and issued a $11.00 price objective on shares of NeoPhotonics in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. NeoPhotonics presently has an average rating of “Hold” and a consensus target price of $7.91.

The stock has a market capitalization of $165.91 million, a price-to-earnings ratio of -5.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.98.

NeoPhotonics (NYSE:NPTN) last released its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The firm had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $79.99 million. NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the business earned ($0.33) earnings per share. Sell-side analysts anticipate that NeoPhotonics Corp will post -0.57 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in shares of NeoPhotonics in the fourth quarter worth approximately $34,000. Quantamental Technologies LLC increased its position in shares of NeoPhotonics by 49.5% in the first quarter. Quantamental Technologies LLC now owns 5,440 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,800 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of NeoPhotonics by 413.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,485 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 6,028 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of NeoPhotonics in the fourth quarter worth approximately $73,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of NeoPhotonics by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,319 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 9,621 shares in the last quarter. 78.35% of the stock is currently owned by institutional investors and hedge funds.

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NeoPhotonics Company Profile (NYSE:NPTN)

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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