NeoPhotonics Corp (NPTN) was Upgraded by Needham to ” Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $17 . Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Jul 25, 2016.
On the company’s financial health, NeoPhotonics Corp reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.14. The company had revenue of $99.10 million for the quarter, 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.
NeoPhotonics Corp opened for trading at $11.2 and hit $11.28 on the upside on Wednesday, eventually ending the session at $11.18, with a gain of 0.63% or 0.07 points. The heightened volatility saw the trading volume jump to 2,80,181 shares. Company has a market cap of $464 M.
In a different news, on May 4, 2016, Chiyue Cheung (Chief Operating Officer) sold 20,000 shares at $11.85 per share price. According to the SEC, on Apr 28, 2016, Ray Wallin (SVP, CFO) sold 6,672 shares at $13.52 per share price. On Apr 15, 2016, Benjamin Lee Sitler (SVP, Global Sales) sold 2,272 shares at $13.40 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.