Needham Released “Strong Buy” Rating on NeoPhotonics Corp (NPTN)

NeoPhotonics Corp (NPTN) was Reiterated by Needham to “Strong Buy” while Lowering the Price Target of the company shares to $ 13 from a previous price target of $17 . Needham advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Shares were Reiterated by Needham on Mar 15, 2017 to “Strong Buy” and Lowered the Price Target to $ 13 from a previous price target of $17 .Shares were Reiterated by Needham on Dec 20, 2016 to “Strong Buy” and Lowered the Price Target to $ 17 from a previous price target of $24 .

Several company insiders have filed Insider transactions , on Aug 19, 2016, Timothy Storrs Jenks (CEO) sold 22,666 shares at $15.04 per share price. According to the SEC, on Aug 19, 2016, Yuen Wupen (VICE PRESIDENT GLOBAL PRODUCT) sold 3,400 shares at $15.00 per share price. On Aug 16, 2016, Ray Wallin (SVP, CFO) sold 10,000 shares at $14.55 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, NeoPhotonics Corp reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 14, 2017. Analyst had a consensus of $0.08. The company had revenue of $109.84 million for the quarter, compared to analysts expectations of $106.96 million. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

NeoPhotonics Corp opened for trading at $6.99 and hit $9.57 on the upside on Wednesday, eventually ending the session at $9.55, with a gain of 18.19% or 1.47 points. The heightened volatility saw the trading volume jump to 1,55,03,190 shares. Company has a market cap of $404 M.

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.

NeoPhotonics Corp

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