Northland Securities analyst Tim Savageaux maintained a Buy rating on NeoPhotonics (NPTN) today and set a price target of $13.00. The company’s shares closed last Monday at $6.29.
According to TipRanks.com, Savageaux is a 4-star analyst with an average return of 6.9% and a 52.1% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
NeoPhotonics has an analyst consensus of Moderate Buy, with a price target consensus of $9.90, a 58.4% upside from current levels. In a report issued on September 1, B.Riley FBR also upgraded the stock to Buy with a $9.00 price target.
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Based on NeoPhotonics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $103 million and net profit of $5.73 million. In comparison, last year the company earned revenue of $81.69 million and had a GAAP net loss of $7.33 million.
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NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components. The company was founded on October 31, 1996 and is headquartered in San Jose, CA.