NeoPhotonics (NPTN) PT, Estimates Lowered at Needham & Company
- Wall Street rallies as higher oil boosts energy stocks
- Hewlett Packard Enterprise (HPE) to Spin, Merge Enterprise Services Business with CSC (CSC)
- Medivation's (MDVN) Board Split Over Support for Gilead (GILD), Pfizer (PFE) Proposals - Source
- Sarepta Therapeutics (SRPT) Says FDA Will Not Complete Review of Eteplirsen by PDUFA Date
- Oil up near $50 on bets for large U.S. crude drawdown
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
- Universal Display (OLED) PT Raised at Needham & Company Following NDR and SID Conference
- Activision (ATVI): 'Overwatch' is Off to Good Start, But Don't Get Too Excited - Macquarie
- Needham & Company Upgrades HP Enterprise (HPE) to Buy
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!