NeoPhotonics Corp (NPTN) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $20 . Needham advised their investors in a research report released on Sep 12, 2016.
Many Wall Street Analysts have commented on NeoPhotonics Corp. Company shares were Reiterated by Needham on Sep 12, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Reiterated by Needham on Aug 9, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .
On the company’s financial health, NeoPhotonics Corp reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.13. The company had revenue of $99.13 million for the quarter, compared to analysts expectations of $100.55 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
NeoPhotonics Corp opened for trading at $16.06 and hit $16.7301 on the upside on Wednesday, eventually ending the session at $16.55, with a gain of 4.09% or 0.65 points. The heightened volatility saw the trading volume jump to 1,323,911 shares. Company has a market cap of $692 M.
In a different news, on Aug 19, 2016, Timothy Storrs Jenks (CEO) sold 22,666 shares at $15.04 per share price. According to the SEC, on Aug 19, 2016, Yuen Wupen (VICE PRESIDENT GLOBAL PRODUCT) sold 3,400 shares at $15.00 per share price. On Aug 16, 2016, Ray Wallin (SVP, CFO) sold 10,000 shares at $14.55 per share price, according to the Form-4 filing with the securities and exchange commission.
NeoPhotonics Corporation develops manufactures and markets optoelectronic products that transmit receive and switch digital optical signals for communications networks. The Company produces photonic integrated circuits (PICs) that comprise both arrayed and individual photonic functional elements using optimized materials systems and processes from its in-house Silicon Indium Phosphide and Gallium Arsenide wafer fabrication. These individual PICs from different materials are then combined using hybrid integration technology to make complete products such as its Integrated Coherent Receiver (ICR) for 100G coherent transport applications. The Company’s customers include Alcatel-Lucent SA Ciena Corporation Cisco Systems Inc. and Huawei Technologies Co. Ltd. Its products are categorized into groups including High Speed Products and Network Products and Solutions. The high speed 100G and beyond products are based on its Advanced Hybrid Photonic Integration technology.