Zacks: Brokerages Expect NeoPhotonics Corp (NPTN) Will Post Quarterly Sales of $82.68 Million

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Wall Street analysts expect that NeoPhotonics Corp (NYSE:NPTN) will report $82.68 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for NeoPhotonics’ earnings, with estimates ranging from $81.49 million to $84.00 million. NeoPhotonics posted sales of $71.12 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is scheduled to announce its next earnings report on Monday, November 5th.

On average, analysts expect that NeoPhotonics will report full-year sales of $321.11 million for the current year, with estimates ranging from $318.46 million to $323.70 million. For the next year, analysts forecast that the business will post sales of $352.92 million per share, with estimates ranging from $333.00 million to $371.22 million. Zacks’ sales calculations are an average based on a survey of analysts that cover NeoPhotonics.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings data on Monday, August 6th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. NeoPhotonics had a negative net margin of 20.58% and a negative return on equity of 28.35%. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $73.56 million. During the same period last year, the business earned ($0.15) earnings per share. NeoPhotonics’s revenue was up 10.8% compared to the same quarter last year.

Several equities research analysts recently issued reports on the stock. B. Riley raised their price objective on shares of NeoPhotonics from $5.75 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 9th. Rosenblatt Securities set a $13.00 price objective on shares of NeoPhotonics and gave the stock a “buy” rating in a research report on Saturday, July 28th. ValuEngine upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. DA Davidson raised their price objective on shares of NeoPhotonics from $6.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research cut shares of NeoPhotonics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.61.

NeoPhotonics stock opened at $8.66 on Monday. NeoPhotonics has a 12-month low of $4.56 and a 12-month high of $9.00. The stock has a market cap of $390.51 million, a P/E ratio of -7.87 and a beta of 1.19. The company has a quick ratio of 1.35, a current ratio of 1.81 and a debt-to-equity ratio of 0.27.

Several institutional investors and hedge funds have recently made changes to their positions in NPTN. Russell Investments Group Ltd. grew its holdings in shares of NeoPhotonics by 1,085.4% in the first quarter. Russell Investments Group Ltd. now owns 2,906,592 shares of the semiconductor company’s stock valued at $19,909,000 after purchasing an additional 2,661,392 shares in the last quarter. BlackRock Inc. grew its holdings in shares of NeoPhotonics by 10.6% in the second quarter. BlackRock Inc. now owns 2,227,949 shares of the semiconductor company’s stock valued at $13,880,000 after purchasing an additional 213,336 shares in the last quarter. Boston Partners grew its holdings in shares of NeoPhotonics by 506.6% in the first quarter. Boston Partners now owns 1,789,520 shares of the semiconductor company’s stock valued at $12,259,000 after purchasing an additional 1,494,520 shares in the last quarter. Cavalry Management Group LLC grew its holdings in shares of NeoPhotonics by 148.3% in the first quarter. Cavalry Management Group LLC now owns 1,226,971 shares of the semiconductor company’s stock valued at $8,404,000 after purchasing an additional 732,852 shares in the last quarter. Finally, Northpointe Capital LLC grew its holdings in shares of NeoPhotonics by 46.3% in the second quarter. Northpointe Capital LLC now owns 768,607 shares of the semiconductor company’s stock valued at $4,788,000 after purchasing an additional 243,228 shares in the last quarter. Institutional investors and hedge funds own 82.25% of the company’s stock.

NeoPhotonics Company Profile

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.

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