NeoPhotonics Corp (NPTN) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.14. The company posted revenue of $99.10 million in the period, compared to analysts expectations of $95.59 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Many Wall Street Analysts have commented on NeoPhotonics Corp. Company shares were Reiterated by Needham on Mar 2, 2016 to “Buy”, Firm has raised the Price Target to $ 16 from a previous price target of $12 .Piper Jaffray Initiated NeoPhotonics Corp on Feb 23, 2016 to “Overweight”, Price Target of the shares are set at $13.NeoPhotonics Corp was Upgraded by Raymond James to ” Strong Buy” on Feb 3, 2016.
NeoPhotonics Corp opened for trading at $13.24 and hit $13.88 on the upside on Wednesday, eventually ending the session at $13.85, with a gain of 4.14% or 0.55 points. The heightened volatility saw the trading volume jump to 8,81,545 shares. Company has a market cap of $569 M.
In a different news, on Apr 15, 2016, Benjamin Lee Sitler (SVP, Global Sales) sold 2,272 shares at $13.40 per share price. According to the SEC, on Apr 14, 2016, Ray Wallin (SVP, CFO) sold 2,000 shares at $13.52 per share price. On Apr 13, 2016, Yuen Wupen (VICE PRESIDENT GLOBAL PRODUCT) sold 6,271 shares at $13.56 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.