Granite Point Capital Management L.P. Acquires 36,998 Shares of NeoPhotonics Corp (NPTN)

Granite Point Capital Management L.P. lifted its holdings in NeoPhotonics Corp (NYSE:NPTN) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 458,302 shares of the semiconductor company’s stock after acquiring an additional 36,998 shares during the period. NeoPhotonics makes up 0.5% of Granite Point Capital Management L.P.’s portfolio, making the stock its 18th biggest position. Granite Point Capital Management L.P. owned about 1.04% of NeoPhotonics worth $2,548,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NPTN. Dimensional Fund Advisors LP boosted its stake in shares of NeoPhotonics by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after purchasing an additional 760,110 shares during the period. Victory Capital Management Inc. boosted its stake in shares of NeoPhotonics by 37.2% in the second quarter. Victory Capital Management Inc. now owns 165,367 shares of the semiconductor company’s stock valued at $1,277,000 after purchasing an additional 44,803 shares during the period. Royce & Associates LP boosted its stake in shares of NeoPhotonics by 12.8% in the second quarter. Royce & Associates LP now owns 1,767,528 shares of the semiconductor company’s stock valued at $13,645,000 after purchasing an additional 200,900 shares during the period. Vanguard Group Inc. boosted its stake in shares of NeoPhotonics by 7.6% in the second quarter. Vanguard Group Inc. now owns 1,629,639 shares of the semiconductor company’s stock valued at $12,580,000 after purchasing an additional 114,518 shares during the period. Finally, Boston Partners purchased a new position in shares of NeoPhotonics in the third quarter valued at $1,884,000. 81.06% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on the stock. DA Davidson upped their target price on shares of NeoPhotonics to $6.50 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. B. Riley reiterated a “hold” rating and set a $5.00 price objective (down from $5.25) on shares of NeoPhotonics in a research note on Tuesday, November 7th. Finally, Needham & Company LLC reduced their price objective on shares of NeoPhotonics from $11.00 to $8.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.61.

NeoPhotonics Corp (NYSE NPTN) traded up $0.20 during midday trading on Wednesday, reaching $6.42. 883,600 shares of the company’s stock were exchanged, compared to its average volume of 1,308,497. NeoPhotonics Corp has a 12-month low of $4.56 and a 12-month high of $14.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings data on Monday, November 6th. The semiconductor company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.09. NeoPhotonics had a negative net margin of 11.37% and a negative return on equity of 13.61%. The firm had revenue of $71.12 million for the quarter, compared to the consensus estimate of $69.94 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s revenue was down 31.2% compared to the same quarter last year. research analysts expect that NeoPhotonics Corp will post -0.99 EPS for the current fiscal year.

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NeoPhotonics 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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Institutional Ownership by Quarter for NeoPhotonics (NYSE:NPTN)

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