NeoPhotonics Corp (NPTN) : Scion Asset Management added new position in NeoPhotonics Corp during the most recent quarter end. The investment management firm now holds 300,000 shares of NeoPhotonics Corp which is valued at $4,203,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.NeoPhotonics Corp makes up approximately 8.18% of Scion Asset Management’s portfolio.
Other Hedge Funds, Including , Wellington Management Group Llp boosted its stake in NPTN in the latest quarter, The investment management firm added 86,219 additional shares and now holds a total of 931,729 shares of NeoPhotonics Corp which is valued at $13,053,523.Renaissance Technologies reduced its stake in NPTN by selling 15,300 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 1,152,700 shares of NPTN which is valued at $16,149,327. NeoPhotonics Corp makes up approx 0.03% of Renaissance Technologies’s portfolio.Algert Global reduced its stake in NPTN by selling 38,484 shares or 68.55% in the most recent quarter. The Hedge Fund company now holds 17,656 shares of NPTN which is valued at $247,361. NeoPhotonics Corp makes up approx 0.09% of Algert Global’s portfolio. Eam Investors sold out all of its stake in NPTN during the most recent quarter. The investment firm sold 344,547 shares of NPTN which is valued $4,703,067.American Century Companies Inc boosted its stake in NPTN in the latest quarter, The investment management firm added 127,666 additional shares and now holds a total of 292,295 shares of NeoPhotonics Corp which is valued at $3,767,683.
NeoPhotonics Corp opened for trading at $14.97 and hit $15.49 on the upside on Thursday, eventually ending the session at $15.25, with a gain of 2.14% or 0.32 points. The heightened volatility saw the trading volume jump to 6,13,848 shares. Company has a market cap of $638 M.
On the company’s financial health, NeoPhotonics Corp reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.13. The company had revenue of $99.13 million for the quarter, compared to analysts expectations of $100.55 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
Many Wall Street Analysts have commented on NeoPhotonics Corp. Company shares were Reiterated by Needham on Aug 9, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .
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.