Russell Investment Management LLC recently announced the acquisition of new stake in NeoPhotonics Corporation (NYSE:NPTN). The institutional investor has increased its shareholding in the Technology company by 19.39% to 4.18 million shares with purchase of 0.68 million shares. This fresh investment now brings its stake to 8.57% valued currently at $38.08 million. In addition, BlackRock Fund Advisors raised its holdings by 0.46 million to 3.02 million shares. And The Vanguard Group, Inc. has lifted its position by 32.77% or 0.74 million shares – to 2.99 million shares.
With over 2.62 million NeoPhotonics Corporation (NPTN) shares trading Tuesday and a closing price of $6.96 on the day, the dollar volume was approximately $18.22 million. The shares have shown a negative weekly performance of -0.57% and its price on 09/01/20 gained nearly 4.50%. Currently, there are 49.08M common shares owned by the public and among those 46.57M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for NPTN have a consensus price objective of $9.94. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $6.50 should the stock experience a downside. Incidentally, analysts’ outlook for the NeoPhotonics Corporation stock is 2.50 for the next 12 months. The average price target is 38.84% above its last price level and an upside to the estimated low will see the stock lose -7.08% over that period. But an upside of 46.46% will see the stock hit the forecast high price target while mean target price for the stock is $9.50.
Insiders at the company have transacted a total of 94 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 538,533 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 394,303 shares.
The top 3 mutual fund holders in NeoPhotonics Corporation are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Wasatch Micro Cap Fund. Vanguard Total Stock Market Index owns 1.24 million shares of the company’s stock, all valued at over $11.27 million. iShares Russell 2000 ETF sold 45934.0 shares to see its total holdings shrink to 0.98 million shares valued at over $8.96 million and representing 2.02% of the shares outstanding. Wasatch Micro Cap Fund bought 0.79 million shares to bring its total holdings to over 0.79 million shares at a value of $7.19 million. Wasatch Micro Cap Fund now owns shares totaling to 1.62% of the shares outstanding.
Shares of NeoPhotonics Corporation (NYSE: NPTN) opened at $7.32, up $0.66 from a prior closing price of $6.66. However, the script later closed the day at $6.96, up 4.50%. The company’s stock has a 5-day price change of -0.57% and -23.01% over the past three months. NPTN shares are trading -21.09% year to date (YTD), with the 12-month market performance up to 11.90% higher. It has a 12-month low price of $4.65 and touched a high of $10.34 over the same period. Currently, 2.62 million shares have been traded, compared to an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.11%, -16.57%, and -14.29% respectively.
Institutional ownership of NeoPhotonics Corporation (NYSE: NPTN) shares accounts for 91.30% of the company’s 49.08M shares outstanding. Mutual fund holders own 36.78%, while other institutional holders and individual stakeholders account for 55.16% and 19.16% respectively.
It has a market capitalization of $335.05M and a beta (3y monthly) value of 1.27. The stock’s trailing 12-month PE ratio is 21.42, while the earnings-per-share (ttm) stands at $0.33. The company has a PEG of 1.43 and a Quick Ratio of 1.90 with the debt-to-equity ratio at 0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.33% over the week and 5.37% over the month.
Analysts forecast that NeoPhotonics Corporation (NPTN) will achieve an EPS of $0.09 for the current quarter, -$0.08 for the next quarter and -$0.03 for 2021. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 62.70%, and 2.99% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to 10.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate NeoPhotonics Corporation (NPTN) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 3 of the 10 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NPTN, a number of firms have released research notes about the stock. B. Riley FBR stated their Buy rating for the stock in a research note on September 01, 2020, with the firm’s price target at $9. Needham coverage for the NeoPhotonics Corporation (NPTN) stock in a research note released on August 31, 2020 offered a Hold rating with a price target of. Raymond James was of a view on August 25, 2020 that the stock is Underperform, while B. Riley FBR gave the stock Neutral rating on June 16, 2020, issuing a price target of $10. Rosenblatt on their part issued Neutral rating on April 24, 2020.