NeoPhotonics (NPTN) PT, Estimates Lowered at Needham & Company
Needham & Company analyst Alex Henderson lowered estimates and its price target on Buy-rated NeoPhotonics (NYSE: NPTN) to $7.00 (from $10.00) but maintained Buy rating.
Henderson comments, "NPTN continues to struggle toward profitability. CY1Q results and the CY2Q guide were essentially in-line with our forecast. Management is upbeat on strengthening demand and believes they are well positioned to ramp a number of new products to capitalize on the 100g and metro trends. They also called out the 100g ramp in China. We are edging our margin estimates a tad lower but for the most part our model remains unchanged."
Shares of NeoPhotonics closed at $4.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- Check Point Software Technology (CHKP): Raising PT to $118 - Jefferies
- BMO Capital Raises Price Target on IHS Markit (INFO) Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!