NeoPhotonics Corp. (NPTN) Shares Sold by Fisher Asset Management LLC
Fisher Asset Management LLC reduced its stake in shares of NeoPhotonics Corp. (NYSE:NPTN) by 26.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,890 shares of the company’s stock after selling 73,989 shares during the period. Fisher Asset Management LLC’s holdings in NeoPhotonics Corp. were worth $3,446,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Capital Fund Management S.A. bought a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $103,000. Quantbot Technologies LP raised its stake in shares of NeoPhotonics Corp. by 132.4% in the second quarter. Quantbot Technologies LP now owns 11,149 shares of the company’s stock valued at $106,000 after buying an additional 6,352 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $124,000. BlackRock Inc. raised its stake in shares of NeoPhotonics Corp. by 462.4% in the second quarter. BlackRock Inc. now owns 15,517 shares of the company’s stock valued at $148,000 after buying an additional 12,758 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of NeoPhotonics Corp. by 8.5% in the second quarter. American International Group Inc. now owns 17,747 shares of the company’s stock valued at $169,000 after buying an additional 1,395 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.
NeoPhotonics Corp. (NYSE:NPTN) traded down 4.93% during midday trading on Wednesday, reaching $12.92. The company had a trading volume of 701,272 shares. The company’s market capitalization is $546.83 million. NeoPhotonics Corp. has a 12-month low of $7.61 and a 12-month high of $18.51. The stock has a 50-day moving average price of $13.72 and a 200 day moving average price of $12.94.
NeoPhotonics Corp. (NYSE:NPTN) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.08. NeoPhotonics Corp. had a positive return on equity of 4.18% and a negative net margin of 0.46%. The company had revenue of $103.30 million for the quarter, compared to the consensus estimate of $104.04 million. During the same quarter last year, the business earned $0.11 EPS. NeoPhotonics Corp.’s revenue was up 23.6% on a year-over-year basis. Equities analysts forecast that NeoPhotonics Corp. will post $0.54 EPS for the current year.
A number of research firms have commented on NPTN. Needham & Company LLC boosted their price objective on NeoPhotonics Corp. from $20.00 to $22.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 12th. 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. Zacks Investment Research lowered NeoPhotonics Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 10th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $17.00 price objective on shares of NeoPhotonics Corp. in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.04.
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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