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NeoPhotonics Corporation (NPTN) Report Analysis

Corporate Events

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2000 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2500 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Small Cap Comp Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Microcap Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped fro...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000E Value Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000 Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Small Cap Comp Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2000 Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000E Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Microcap Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Ru...

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2500 Growth Index

Neutral

NeoPhotonics Corporation - Special Call

2022-06-06 20:05:00

To discuss trends in optical and related technologies for Lidar and autonomous vehicles

Negative

NeoPhotonics Corporation Announces Asset Impair...

2022-04-28 20:05:00

NeoPhotonics Corporation announced Asset impairment charges of $413,000 for the first quarter ended March 31, 2022.

Neutral

NeoPhotonics Corporation, Annual General Meetin...

2022-04-22 20:35:00

NeoPhotonics Corporation, Annual General Meeting, Jun 02, 2022, at 09:00 Pacific Standard Time. Agenda: To elect each of its Class III directo...

Neutral

NeoPhotonics Corporation - Shareholder/Analyst Call

2022-04-22 20:35:00

AGM

Neutral

NeoPhotonics Corporation, Special/Extraordinary...

2021-12-23 21:31:00

NeoPhotonics Corporation, Special/Extraordinary Shareholders Meeting, Feb 01, 2022, at 09:00 Pacific Standard Time. Agenda: To consider and vo...

Neutral

NeoPhotonics Corporation - Shareholder/Analyst Call

2021-12-23 21:31:00

special meeting of stockholders

Positive

Lumentum Holdings Inc. (NasdaqGS:LITE) entered ...

2021-11-04 00:00:00

Lumentum Holdings Inc. (NasdaqGS:LITE) entered into an agreement and plan of merger to acquire NeoPhotonics Corporation (NYSE:NPTN) from The V...

Neutral

NeoPhotonics Corporation to Report Q3, 2021 Res...

2021-10-21 20:06:00

NeoPhotonics Corporation announced that they will report Q3, 2021 results After-Market on Nov 04, 2021

Neutral

NeoPhotonics Corporation, Q3 2021 Earnings Call...

2021-10-21 20:06:00

NeoPhotonics Corporation, Q3 2021 Earnings Call, Nov 04, 2021

Neutral

Lumentum Holdings Inc., NeoPhotonics Corporatio...

2021-10-20 13:00:00

Lumentum Holdings Inc., NeoPhotonics Corporation, Q1 2022 Earnings Call, Nov 04, 2021

Neutral

NeoPhotonics Corporation Presents at Raymond Ja...

2021-10-07 12:06:00

NeoPhotonics Corporation Presents at Raymond James Virtual Technology Investors Conference 2021, Dec-06-2021 .

Neutral

Raymond James & Associates, Inc., Raymond James...

2021-09-16 22:54:00

Raymond James & Associates, Inc., Raymond James Virtual Technology Investors Conference 2021, Dec 06, 2021 through Dec 08, 2021.

Positive

NeoPhotonics Corporation Announces Tunable, Hig...

2021-09-14 12:45:00

NeoPhotonics Corporation announced a new, tunable high power FMCW (frequency-modulated continuous-wave) laser module and high power semiconduc...

Positive

NeoPhotonics Corporation Introduces CFP2-DCO Mo...

2021-09-08 12:45:00

NeoPhotonics Corporation announced a new, high output power version of its 400G Multi-Rate CFP2-DCO coherent pluggable transceiver with 0 dBm ...

Neutral

NeoPhotonics Corporation - Special Call

2021-09-02 20:30:00

To discuss trends in optical communications and related technologies

Neutral

NeoPhotonics Corporation has filed a Shelf Regi...

2021-08-16 00:00:00

NeoPhotonics Corporation has filed a Shelf Registration in the amount of $150 million. Security Name: Common Stock Security Name: Prefer...

Neutral

NeoPhotonics Corporation Provides Revenue Guida...

2021-08-03 20:06:00

NeoPhotonics Corporation provided revenue guidance for the third quarter ending September 30, 2021. For the quarter, the company expected reve...

Negative

NeoPhotonics Corporation Announces Appointment ...

2021-07-27 14:33:00

NeoPhotonics Corporation has announced the appointment of Bradford W. Wright as the company's senior vice president of global sales. Wright br...

Neutral

NeoPhotonics Corporation to Report Q2, 2021 Res...

2021-07-22 09:55:00

NeoPhotonics Corporation announced that they will report Q2, 2021 results After-Market on Aug 03, 2021

Neutral

NeoPhotonics Corporation, Q2 2021 Earnings Call...

2021-07-22 09:55:00

NeoPhotonics Corporation, Q2 2021 Earnings Call, Aug 03, 2021

Neutral

Needham & Company, LLC, Needham Virtual Securit...

2021-07-12 12:06:00

Needham & Company, LLC, Needham Virtual Security, Networking, & Communications Conference, Jul 16, 2021.

Neutral

NeoPhotonics Corporation Presents at Needham Vi...

2021-07-12 12:06:00

NeoPhotonics Corporation Presents at Needham Virtual Security, Networking, & Communications Conference, Jul-16-2021 .

Negative

NeoPhotonics Corporation Appoints Sheri L. Sava...

2021-07-06 20:10:00

NeoPhotonics Corporation announced that Sheri L. Savage has been appointed to its Board of Directors. Ms. Savage has served as Chief Financial...

Positive

NeoPhotonics Corporation Enters into an Amended...

2021-07-02 20:31:00

On June 29, 2021, NeoPhotonics Corporation entered into an Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, ...

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2000 Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2000 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000 Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2500 Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 2500 Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Small Cap Comp Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Small Cap Comp Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Microcap Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell Microcap Value Index

Negative

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000E Value Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) dropped from Russell 3000E Value Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000 Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000 Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Small Cap Comp Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Small Cap Comp Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2000 Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2000 Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000E Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 3000E Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Microcap Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell Microcap Growth Index

Positive

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2500 Growth Index

2022-06-24 00:00:00

NeoPhotonics Corporation(NYSE:NPTN) added to Russell 2500 Growth Index

Neutral

NeoPhotonics Corporation - Special Call

2022-06-06 20:05:00

To discuss trends in optical and related technologies for Lidar and autonomous vehicles

Negative

NeoPhotonics Corporation Announces Asset Impairment Charges for the First Quarter Ended March 31, 2022

2022-04-28 20:05:00

NeoPhotonics Corporation announced Asset impairment charges of $413,000 for the first quarter ended March 31, 2022.

Neutral

NeoPhotonics Corporation, Annual General Meeting, Jun 02, 2022

2022-04-22 20:35:00

NeoPhotonics Corporation, Annual General Meeting, Jun 02, 2022, at 09:00 Pacific Standard Time. Agenda: To elect each of its Class III director nominees; and to ratify the appointment of BDO USA, LLP as an independent registered public accounting firm for 2022.

Neutral

NeoPhotonics Corporation - Shareholder/Analyst Call

2022-04-22 20:35:00

AGM

Neutral

NeoPhotonics Corporation, Special/Extraordinary Shareholders Meeting, Feb 01, 2022

2021-12-23 21:31:00

NeoPhotonics Corporation, Special/Extraordinary Shareholders Meeting, Feb 01, 2022, at 09:00 Pacific Standard Time. Agenda: To consider and vote on the proposal to adopt the Agreement and Plan of Merger, dated November 3, 2021; to consider and vote on the proposal to approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to NeoPhotonics' named executive officers; and to consider and vote on any proposal to adjourn the Special Meeting to a later date or dates, if necessary or appropriate, including to solicit additional proxies to approve the proposal to adopt the Merger Agreement if there are insufficient votes to adopt the Merger Agreement at the time of the Special Meeting.

Neutral

NeoPhotonics Corporation - Shareholder/Analyst Call

2021-12-23 21:31:00

special meeting of stockholders

Positive

Lumentum Holdings Inc. (NasdaqGS:LITE) entered into letter of intent to acquire NeoPhotonics Corporation (NYSE:NPTN) from The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK) and others for approximately $900 million.

2021-11-04 00:00:00

Lumentum Holdings Inc. (NasdaqGS:LITE) entered into an agreement and plan of merger to acquire NeoPhotonics Corporation (NYSE:NPTN) from The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK) and others for approximately $900 million on November 3, 2021. Under the terms of the transaction, Lumentum will acquire all outstanding shares of NeoPhotonics in an all-cash transaction of $16 per share. Lumentum intends to finance the transaction through cash from the combined company’s balance sheet. Lumentum will provide up to $50 million in term loans to NeoPhotonics to fund anticipated growth, which may require increased working capital and manufacturing capacity. NeoPhotonics may be required to pay Lumentum a termination fee of $27.5 million. Lumentum may be required to pay NeoPhotonics a termination fee of $55.1 million and if Lumentum takes certain specified actions, (including entering into any definitive agreement for an acquisition by stock purchase, merger, consolidation, amalgamation, purchase of assets, license or otherwise of any ownership interest or assets of any Person) that cause a material delay in, or results in the failure of, the consummation of the merger, Lumentum may be required to pay NeoPhotonics an additional termination fee of $36.7 million. As of February 1, 2022, NeoPhotonics stockholders approved the merger agreement under which Lumentum Holdings Inc. will acquire NeoPhotonics. Stockholders also approved other proposals relating to the transaction. Tim Jenks will continue to lead the company as Chief Executive Officer and the executive staff will continue in their current roles. The transaction is subject to approval by NeoPhotonics’ stockholders, receipt of regulatory approvals in the United States and China, receipt of antitrust regulatory approval in the US and China, the expiration or termination of the required waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. The transaction has been unanimously approved by the Boards of Directors of Lumentum Holdings Inc. and NeoPhotonics Corporation. The transaction is not subject to any financing condition. As of January 21, 2022, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired. The transaction is expected to close in the second half of calendar year 2022. The transaction is expected to be immediately accretive to non-GAAP earnings per share and deliver more than $50 million in annual run-rate cost synergies within 24 months of transaction close. Goldman Sachs & Co. LLC acted as the financial advisor and Robert T. Ishii, Lisa L. Stimmell, Dana J. Hall, Brandon M. Gantus, Michael J. Montfort, Scott A. Sher, Jamillia P. Ferris, J. Todd Hahn, John P. McGaraghan, Matt Staples, Myra A. Sutanto Shen, James P. McCann, Martin R. Sul, Josephine Aiello LeBeau, Anne E. Seymour, Tarek J. Helou and Rich Mullen of Wilson Sonsini Goodrich & Rosati acted as the legal advisors for Lumentum Holdings Inc. Union Square Advisors LLC acted as the financial advisor as well as fairness opinion provider and Steve Tonsfeldt and Ian Nussbaum of Cooley LLP acted as the legal advisors for NeoPhotonics Corporation. Georgeson acted as information agent to NeoPhotonics. NeoPhotonics will pay fees of approximately $25,000 plus expenses to Georgeson. American Stock Transfer & Trust Company acted as transfer agent to NeoPhotonics. The engagement letter provides that we will pay Union Square a fee for its services of approximately $9.1 million, $750,000 of which was paid upon delivery of Union Square’s opinion and the remainder of which is payable upon closing of the Merger. Deutsche Bank Securities Inc. acted as financial advisor to Lumentum. Christopher D. Dillon of Gibson Dunn & Crutcher acted as legal advisor to Union Square Advisors LLC.

Neutral

NeoPhotonics Corporation to Report Q3, 2021 Results on Nov 04, 2021

2021-10-21 20:06:00

NeoPhotonics Corporation announced that they will report Q3, 2021 results After-Market on Nov 04, 2021

Neutral

NeoPhotonics Corporation, Q3 2021 Earnings Call, Nov 04, 2021

2021-10-21 20:06:00

NeoPhotonics Corporation, Q3 2021 Earnings Call, Nov 04, 2021

Neutral

Lumentum Holdings Inc., NeoPhotonics Corporation, Q1 2022 Earnings Call, Nov 04, 2021

2021-10-20 13:00:00

Lumentum Holdings Inc., NeoPhotonics Corporation, Q1 2022 Earnings Call, Nov 04, 2021

Neutral

NeoPhotonics Corporation Presents at Raymond James Virtual Technology Investors Conference 2021, Dec-06-2021

2021-10-07 12:06:00

NeoPhotonics Corporation Presents at Raymond James Virtual Technology Investors Conference 2021, Dec-06-2021 .

Neutral

Raymond James & Associates, Inc., Raymond James Virtual Technology Investors Conference 2021, Dec 06, 2021 through Dec 08, 2021

2021-09-16 22:54:00

Raymond James & Associates, Inc., Raymond James Virtual Technology Investors Conference 2021, Dec 06, 2021 through Dec 08, 2021.

Positive

NeoPhotonics Corporation Announces Tunable, High Power FMCW Laser and Semiconductor Optical Amplifier for Coherent Lidar in Autonomous Vehicle and Industrial Sensing Applications

2021-09-14 12:45:00

NeoPhotonics Corporation announced a new, tunable high power FMCW (frequency-modulated continuous-wave) laser module and high power semiconductor optical amplifier (SOA) chips. Both components are optimized to enable long range automotive lidar and high resolution industrial sensing applications. The FMCW Laser is C-band tunable and can be directly modulated to provide >21dBm (126mW) fiber coupled power and a narrow linewidth FMCW optical signal. The SOA chip is designed for integration with Photonic Integrated Circuit (PIC) lidar engines and provides >23dBm optical output power. These new high output power SOAs and FMCW lasers are based on NeoPhotonics photonic integration platform and improve sensitivity and range, which enables automotive lidar systems to “see” considerably farther than 200 meters, allowing for enhanced safety. Both products operate in the 1550 nm band, which is believed to be more “eye safe”, and are currently being sampled to key customers. In addition, tunable FMCW laser sources enable lidars with configurable operating wavelength thus further enhancing the immunity of coherent lidars to external light interference. Coherent lidar, also called FMCW lidar, uses coherent technology to greatly increase range and sensitivity by measuring the phase of the reflected light instead of relying only on intensity measurements. Coherent technology was pioneered by NeoPhotonics for communications applications and implemented in PICs using NeoPhotonics Indium Phosphide and Silicon Photonics integration platforms. Coherent lidar systems require similar chip-scale manufacturing to reduce costs and enable high volume. Coherent detection, whether for lidar or Communications applications, uses photonic integrated circuits (PICs) to extract phase and amplitude information from the optical signal. Narrow linewidth and low phase noise lasers are required for precise phase measurements and high optical power is required to compensate for optical loss in the Silicon Photonics optical chips and to provide a sufficient return signal from distant objects for efficient detection. NeoPhotonics narrow linewidth laser and SOA can be used together or separately to optimize the lidar module performance.

Positive

NeoPhotonics Corporation Introduces CFP2-DCO Module with 0 dBm Optical Output Power for Use in ROADM Based Metro, Regional and Long Haul Networks

2021-09-08 12:45:00

NeoPhotonics Corporation announced a new, high output power version of its 400G Multi-Rate CFP2-DCO coherent pluggable transceiver with 0 dBm output power and designed to operate in metro, regional and long haul ROADM based optical networks. This new, high output power module is based on NeoPhotonics vertically integrated Indium Phosphide technology platform, including their ultra-pure Nano tunable laser and Class 40 Coherent Driver Modulator (CDM) and Coherent Receiver (ICR). The module operates at up to 67 Gbaud enabling longer distance transmission and exhibiting superior receiver Optical Signal to Noise Ratio (rOSNR) performance. An important, differentiating feature is that the transmitter integrates an optical amplifier to achieve the 0 dBm output power, while simultaneously achieving what the Company believes is the best transmitter OSNR and out-of-band OSNR performance in the industry. Higher transmitter OSNR enables longer distance transmission or more ROADM stages, while higher out-of-band OSNR ensures less crosstalk for colorless ROADMs. In addition to the high output power and superior OSNR performance, ROADM applications also depend on a CFP2-DCO’s optical filtering tolerance when its signal passes through multiple ROADMs in a network. This is because each ROADM stage applies optical filtering and causes the signal to lose power at the spectral edges. The CFP2-DCO module is well suited for metro ROADM applications to cover a network distribution of up to 16 ROADM spans, encompassing almost all network scenarios. In addition, this module runs at a high spectral efficiency with 75GHz DWDM channel spacing. The same 400G CFP2-DCO module has sufficient performance to cover long-haul applications at 400G and 200G.

Neutral

NeoPhotonics Corporation - Special Call

2021-09-02 20:30:00

To discuss trends in optical communications and related technologies

Neutral

NeoPhotonics Corporation has filed a Shelf Registration in the amount of $150 million.

2021-08-16 00:00:00

NeoPhotonics Corporation has filed a Shelf Registration in the amount of $150 million. Security Name: Common Stock Security Name: Preferred Stock Security Name: Debt Securities Security Name: Warrants Transaction Features: Omnibus/Universal Shelf Registration

Neutral

NeoPhotonics Corporation Provides Revenue Guidance for the Third Quarter Ending September 30, 2021

2021-08-03 20:06:00

NeoPhotonics Corporation provided revenue guidance for the third quarter ending September 30, 2021. For the quarter, the company expected revenue of $76 million to $84 million. Loss per share of $0.20 to $0.10.

Negative

NeoPhotonics Corporation Announces Appointment of Bradford W. Wright as Senior Vice President of Global Sales

2021-07-27 14:33:00

NeoPhotonics Corporation has announced the appointment of Bradford W. Wright as the company's senior vice president of global sales. Wright brings to NeoPhotonics his 25 years of experience in the communications and semiconductor industries. Most recently, Wright was employed as the head of Worldwide Component Sales and Applications at Cisco Systems, following their acquisition of Acacia Communications, where he was Vice President of Sales from January 2018. From January 2016 to January 2018, Wright served as Director of Sales at Intel Corporation, following their acquisition of Altera Corporation in 2015, where he held a similar role. Before Altera, Wright rose through several commercial roles of increasing responsibility at Analog Devices and Texas Instruments.

Neutral

NeoPhotonics Corporation to Report Q2, 2021 Results on Aug 03, 2021

2021-07-22 09:55:00

NeoPhotonics Corporation announced that they will report Q2, 2021 results After-Market on Aug 03, 2021

Neutral

NeoPhotonics Corporation, Q2 2021 Earnings Call, Aug 03, 2021

2021-07-22 09:55:00

NeoPhotonics Corporation, Q2 2021 Earnings Call, Aug 03, 2021

Neutral

Needham & Company, LLC, Needham Virtual Security, Networking, & Communications Conference, Jul 16, 2021

2021-07-12 12:06:00

Needham & Company, LLC, Needham Virtual Security, Networking, & Communications Conference, Jul 16, 2021.

Neutral

NeoPhotonics Corporation Presents at Needham Virtual Security, Networking, & Communications Conference, Jul-16-2021

2021-07-12 12:06:00

NeoPhotonics Corporation Presents at Needham Virtual Security, Networking, & Communications Conference, Jul-16-2021 .

Negative

NeoPhotonics Corporation Appoints Sheri L. Savage to Its Board of Directors

2021-07-06 20:10:00

NeoPhotonics Corporation announced that Sheri L. Savage has been appointed to its Board of Directors. Ms. Savage has served as Chief Financial Officer of Ultra Clean Holdings Inc. (UCT), a supplier for critical subsystems for semiconductor capital equipment, since July 2016. Ms. Savage previously served as Senior Vice President of Finance, Chief Accounting Officer and other senior finance roles at UCT since 2009. Prior to joining UCT, Ms. Savage served at Credence Systems Corporation, a manufacturer of test equipment for the global semiconductor industry, as its Corporate Controller and Vice President of Finance and as Director of Internal Audit. Prior to Credence Systems, Ms. Savage served in various accounting and finance roles in consulting, semiconductor companies and audit firms. In addition, the company’s Board of Directors appointed Ms. Savage to the company’s Audit Committee. Director Kimberly Y. Chainey has been appointed to the company’s Nominating and Governance Committee. Kimberly Chainey has been a member of the Board of Directors since March of 2021.

Positive

NeoPhotonics Corporation Enters into an Amended and Restated Credit Agreement

2021-07-02 20:31:00

On June 29, 2021, NeoPhotonics Corporation entered into an Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent and the lenders party thereto. The A&R Credit Agreement amends and restates in full that certain Credit Agreement dated as of September 8, 2017, by and among the Company, the Agent, and the lenders party thereto. The A&R Credit Agreement provides for continuation of the $50 million revolving credit facility (the "Credit Facility") and matures on June 30, 2026. Prior to the signing of the A&R Credit Agreement, the Company had drawn $21 million under the Former Credit Agreement, which amount was rolled over and is now treated as outstanding under the Credit Facility. The A&R Credit Agreement requires the Company to maintain a minimum liquidity of $20 million and provides flexibility of increasing the borrowing base to a broader set of customers, as defined in the A&R Credit Agreement. The Company will use the proceeds of the Credit Facility for working capital needs and general corporate purposes. Loans under the Credit Facility bear interest, at the Company’s option, at a rate equal to either (a) the LIBOR rate, plus an applicable margin ranging from 1.50% to 1.75% per annum, based upon the average excess availability (as defined in the Credit Facility), or (b) the prime lending rate, plus an applicable margin ranging from 0.50% to 0.75% per annum, based upon the average excess availability. The Company is required to pay a commitment fee equal to 0.25% of the unused portion of the Credit Facility, monthly in arrears. The obligations of the Company under the Credit Facility are not currently guaranteed by any of the Company’s wholly-owned subsidiaries, but may in the future be guaranteed by certain material domestic subsidiaries of the Company (collectively, the “Loan Parties”). The obligations of the Loan Parties under the A&R Credit Agreement and other loan documents are secured, subject to customary permitted liens and other agreed upon exceptions, by a perfected security interest in (a) all tangible and intangible assets of the Loan Parties, except for intellectual property and other certain excluded assets, and (b) all of the equity interests of the subsidiaries of the Loan Parties held by the Loan Parties (limited, in the case of the voting equity interests of certain material foreign subsidiaries and certain domestic subsidiaries that hold no assets other than equity interests of foreign subsidiaries, to 65% of the voting equity interests of such subsidiaries). The Company is permitted to terminate or reduce the revolving commitments of the lenders and to make voluntary prepayments at any time, without premium or penalty. The Company is not required to make mandatory prepayments of outstanding indebtedness under the A&R Credit Agreement other than in the case that the aggregate amount of all outstanding loans and letters of credit issued under the Credit Facility exceed the aggregate commitment of all lenders under the Credit Facility.

Fundamental Summary

NeoPhotonics's recently released results from Q1 indicate that NeoPhotonics is performing reasonably well and on par with its peers. It is highly likely that it will be mostly tethered to market performance and sector movements for the near term. Therefore, NeoPhotonics received an overall score of 72, translating into a HOLD ranking.

NeoPhotonics reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 89.27 million compared to USD 60.93 million a year ago. Net loss was USD 3.3 million compared to USD 10.69 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.21 a year ago.

Business Description

NeoPhotonics develops, manufactures, and sells optoelectronic products that transmit and receive high speed digital optical signals for cloud and hyperscale data center internet content provider and telecom networks. It offers transmitter and receiver components, and coherent modules, as well as switching products for 400G and optical transmission applications over distances of approximately 2 to 2,000 kilometers; ultra-narrow linewidth tunable lasers; electro-absorptively modulated lasers; distributed feedback lasers; component lasers; and integrated coherent receivers and modulators. The company also provides pluggable coherent transceivers that combine ultra-narrow linewidth laser with coherent receiver and performance coherent modulator; and 100G products for data center applications. In addition, it offers multi-cast switching solutions for 100G and above coherent systems; and network products and solutions, such as arrayed waveguide gratings, multiplexers, and filters that are used in dense wavelength division multiplexing systems. NeoPhotonics sells its products to network equipment manufacturers through a direct sales force in North America; Europe; and Asia, including China, Japan, Korea, and Taiwan. The company was formerly known as NanoGram Corporation and changed its name to NeoPhotonics in 2002. NeoPhotonics was incorporated in 1996 and is headquartered in San Jose, California.

Sector Overview

NeoPhotonics is included in the Semiconductors & Semiconductor Equipment according to GICS (global industry classification standard). The Semiconductors & Semiconductor Equipment industry is part of the Information Technology sector. It includes manufacturers of semiconductors, semiconductor equipment, and related products. NeoPhotonics's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 324.2 6.1% 66
Liabilities 172.7 13.2% 89
Price to Book 5.5 3.0% 64
Cash & Equivalents 79.0 1.6% 72
Equity 151.5 -0.9% 49
EBITDA -1.0 88.2% 95
Total Revenues 318.6 9.8% 45
Parameter Value Change Score
Return on Equity -20.8 15.0% 90
Net Cashflow -4.4 75.0% 50
Capital Expenditure -10.3 -2.9% 67
Asset Turnover 1.0 11.6% 87
Free Cashflow -0.7 -6.9% 63

* All values are TTM

The below chart reflects NeoPhotonics's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While NeoPhotonics's peer average final assessment score stands on 66.0, NeoPhotonics's score is 72.

  •  NPTN
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Wolfspeed, Inc. 8.2B 74 69 55
Hold
66
66 0 1
Daqo New Energy Corp. 5.0B 93 65 89
Strong Buy
95
95 1 1
Onto Innovation Inc. 3.6B 78 67 85
Buy
85
85 2 1
JinkoSolar Holding Co., Ltd. 3.2B 89 62 74
Buy
81
81 3 1
Magnachip Semiconductor Corporation 667.1M 74 90 57
Buy
82
82 4 1
Mykrolis Corp. 657.1M 72 67 75
Hold
76
76 5 1
Valens Semiconductor Ltd. 357.2M 75 65 66
Hold
75
75 6 1
Rockley Photonics Holdings Limited 305.7M 42 79 60
Underperform
59
59 7 1
NVIDIA Corporation 400.2B 71 63 82
Hold
76
76 8 1
Intel Corporation 154.5B 77 76 58
Hold
75
75 9 1
QUALCOMM Incorporated 147.4B 82 66 77
Buy
82
82 10 1
Texas Instruments Incorporated 142.2B 76 74 70
Buy
80
80 11 1
Advanced Micro Devices, Inc. 130.9B 88 59 57
Hold
68
68 12 1
Broadcom Inc. 102.5B 62 71 85
Buy
79
79 13 1
Applied Materials, Inc. 82.7B 60 72 69
Hold
69
69 14 1
Analog Devices, Inc. 77.2B 69 65 84
Hold
78
78 15 1
Micron Technology, Inc. 64.6B 81 74 80
Strong Buy
89
89 16 1
Lam Research Corporation 60.8B 60 74 69
Hold
70
70 17 1
KLA Corporation 49.3B 66 67 74
Hold
72
72 18 1
NXP Semiconductors N.V. 40.5B 64 71 73
Hold
73
73 19 1
Marvell Technology, Inc. 38.5B 60 64 65
Hold
62
62 20 1
Microchip Technology Incorporated 33.0B 79 71 79
Buy
85
85 21 1
Enphase Energy, Inc. 25.7B 58 57 60
Underperform
52
52 22 1
GLOBALFOUNDRIES Inc. 23.9B 78 70 63
Hold
75
75 23 1
ON Semiconductor Corporation 22.9B 81 73 70
Buy
82
82 24 1
Monolithic Power Systems, Inc. 18.5B 84 66 77
Buy
83
83 25 1
Skyworks Solutions, Inc. 15.5B 62 70 71
Hold
70
70 26 1
SolarEdge Technologies, Inc. 15.5B 81 53 43
Underperform
53
53 27 1
Teradyne, Inc. 15.3B 52 75 68
Hold
66
66 28 1
Entegris, Inc. 14.1B 70 69 65
Hold
70
70 29 1
Qorvo, Inc. 10.2B 67 72 73
Hold
75
75 30 1
First Solar, Inc. 7.2B 59 73 53
Underperform
60
60 31 1
Lattice Semiconductor Corporation 6.8B 68 71 77
Hold
78
78 32 1
MKS Instruments, Inc. 5.8B 70 74 59
Hold
70
70 33 1
Silicon Laboratories Inc. 5.3B 72 70 86
Buy
84
84 34 1
Universal Display Corporation 5.2B 75 68 71
Hold
76
76 35 1
CMC Materials, Inc. 5.1B 81 76 74
Strong Buy
87
87 36 1
Tower Semiconductor Ltd. 5.1B 65 79 68
Buy
79
79 37 1
Synaptics Incorporated 4.9B 81 68 66
Hold
76
76 38 1
Power Integrations, Inc. 4.4B 61 80 82
Buy
82
82 39 1
Amkor Technology, Inc. 4.2B 75 70 60
Hold
71
71 40 1
Cirrus Logic, Inc. 4.1B 86 67 90
Strong Buy
92
92 41 1
Allegro MicroSystems, Inc. 4.0B 74 61 56
Hold
62
62 42 1
SiTime Corporation 3.6B 59 64 62
Underperform
59
59 43 1
Semtech Corporation 3.5B 67 75 77
Buy
80
80 44 1
MACOM Technology Solutions Holdings, Inc. 3.3B 70 76 68
Hold
77
77 45 1
FormFactor, Inc. 3.1B 84 80 67
Strong Buy
87
87 46 1
Diodes Incorporated 3.0B 62 76 72
Hold
75
75 47 1
SunPower Corporation 3.0B 61 49 74
Underperform
56
56 48 1
Silicon Motion Technology Corporation 2.8B 54 72 61
Hold
65
65 49 1
MaxLinear, Inc. 2.7B 76 75 88
Strong Buy
91
91 50 1
Nova Ltd. 2.7B 61 69 54
Hold
64
64 51 1
Ambarella, Inc. 2.6B 64 72 79
Hold
77
77 52 1
Kulicke and Soffa Industries, Inc. 2.6B 58 79 82
Buy
80
80 53 1
Rambus Inc. 2.4B 48 64 89
Hold
69
69 54 1
Canadian Solar Inc. 2.0B 59 72 71
Hold
71
71 55 1
Axcelis Technologies, Inc. 1.9B 81 67 82
Buy
85
85 56 1
Credo Technology Group Holding Ltd 1.7B 88 60 53
Hold
67
67 57 1
Himax Technologies, Inc. 1.6B 77 70 66
Buy
79
79 58 1
Impinj, Inc. 1.4B 72 59 65
Hold
65
65 59 1
Ultra Clean Holdings, Inc. 1.4B 63 63 61
Hold
60
60 60 1
Cohu, Inc. 1.3B 58 75 59
Hold
64
64 61 1
Photronics, Inc. 1.2B 69 71 82
Buy
81
81 62 1
Camtek Ltd. 1.1B 66 68 71
Hold
74
74 63 1
SMART Global Holdings, Inc. 1.0B 86 65 62
Hold
75
75 64 1
Veeco Instruments Inc. 1.0B 58 76 71
Hold
72
72 65 1
Alpha and Omega Semiconductor Limited 929.5M 77 69 54
Hold
68
68 66 1
ACM Research, Inc. 917.6M 52 67 50
Underperform
50
50 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 72 70 68
Hold
71
71 68 1
PDF Solutions, Inc. 808.6M 63 71 89
Buy
82
82 69 1
CEVA, Inc. 778.5M 73 71 71
Hold
77
77 70 1
Ichor Holdings, Ltd. 754.1M 60 67 58
Underperform
59
59 71 1
indie Semiconductor, Inc. 720.1M 44 43 85
Underperform
49
49 72 1
Maxeon Solar Technologies, Ltd. 575.9M 53 49 84
Hold
60
60 73 1
Navitas Semiconductor Corporation 533.1M 67 53 90
Hold
72
72 74 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 56 66 73
Hold
62
62 75 1
Rigetti Computing, Inc. 413.5M 98 72 58
Buy
84
84 76 1
Meta Materials Inc. 396.9M 42 43 84
Underperform
47
47 77 1
Helix Technology Corporation 364.9M 65 74 61
Hold
68
68 78 1
CyberOptics Corporation 272.8M 75 71 72
Hold
78
78 79 1
Transphorm, Inc. 255.8M 45 68 88
Hold
69
69 80 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. NeoPhotonics's stock is now priced above its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the near, medium, and long-term. In particular, many institutional investors keep close watch of the 200-day moving average. The company is trading near it's 12-month high, which signals an attack on the resistance price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), NeoPhotonics's stock indicates that it's likely oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 83.

Bullish 83
Close Price 15.68
52W Low 8.01
52W High 15.99
5D MA 15.62
50D MA 15.27
200D MA 14.13
MACD 0.1
RSI 0.02
STOCH 100.0

Balance Sheet Analysis

NeoPhotonics appears likely to maintain its strong balance sheet metrics and momentum going forward. NeoPhotonics is doing a good job of keeping its liabilities under control and growing intelligently. At filing, their liabilities were 172.7, representing 13.2% change from the previous period. This performance is all interesting relative to their peers and suggests that their stock price has room to grow to reflect a higher intrinsic value. The company's liabilities movement component, therefore, received a grade of 89. Also, NeoPhotonics reported a positive trendline in their cash and cash equivalents metrics. Specifically, they reported that cash and cash equivalents were 79.0, representing 1.6% change from the last report. This performance is significantly more impressive than its peers and competitors. It suggests that their stock price has room to grow to reflect its actual intrinsic value. Therefore, its cash and cash equivalents movement earned a score of 72. However, one concerning metric, Equity, stood out. NeoPhotonics management produced disappointing equity metrics this period, which stood at 151.5, representing a -0.9% change. This parameter often affects companies in the same industry and market capitalization by up to 4.5%. These metrics are all the more disappointing relative to their peers and should blunt potential positive momentum in its's stock price. Its equity movement component, therefore, received a grade of 49. The company's balance sheet, Therefore, earned a score of 66.

Parameter Value Change Score
Assets 324.2 6.1% 66
Liabilities 172.7 13.2% 89
Price to Book 5.5 3.0% 64
Cash & Equivalents 79.0 1.6% 72
Equity 151.5 -0.9% 49
* All values are TTM

The below chart describes NeoPhotonics's performance as reflected on its balance sheet with respect to its peers. While NeoPhotonics received a balance sheet score of 66, the average of its peers stands on 63.0.

  •  NPTN
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Wolfspeed, Inc. 8.2B 96 63 59 97 55 74 0 1
Daqo New Energy Corp. 5.0B 91 62 81 95 93 93 1 1
Onto Innovation Inc. 3.6B 83 70 67 72 73 78 2 1
JinkoSolar Holding Co., Ltd. 3.2B 86 62 77 94 94 89 3 1
Magnachip Semiconductor Corporation 667.1M 56 78 79 72 72 74 4 1
Mykrolis Corp. 657.1M 77 53 73 92 79 72 5 1
Valens Semiconductor Ltd. 357.2M 92 70 66 45 72 75 6 1
Rockley Photonics Holdings Limited 305.7M 49 82 40 37 52 42 7 1
NVIDIA Corporation 400.2B 78 70 65 97 54 71 8 1
Intel Corporation 154.5B 65 69 76 90 81 77 9 1
QUALCOMM Incorporated 147.4B 57 71 96 80 80 82 10 1
Texas Instruments Incorporated 142.2B 63 69 87 46 84 76 11 1
Advanced Micro Devices, Inc. 130.9B 93 61 78 96 80 88 12 1
Broadcom Inc. 102.5B 67 79 58 56 55 62 13 1
Applied Materials, Inc. 82.7B 71 72 63 41 55 60 14 1
Analog Devices, Inc. 77.2B 62 80 66 66 66 69 15 1
Micron Technology, Inc. 64.6B 73 69 85 76 74 81 16 1
Lam Research Corporation 60.8B 72 77 58 51 45 60 17 1
KLA Corporation 49.3B 75 62 73 53 66 66 18 1
NXP Semiconductors N.V. 40.5B 71 68 56 62 76 64 19 1
Marvell Technology, Inc. 38.5B 71 84 50 46 51 60 20 1
Microchip Technology Incorporated 33.0B 65 84 76 72 66 79 21 1
Enphase Energy, Inc. 25.7B 89 60 39 97 56 58 22 1
GLOBALFOUNDRIES Inc. 23.9B 81 65 74 82 74 78 23 1
ON Semiconductor Corporation 22.9B 74 68 77 89 82 81 24 1
Monolithic Power Systems, Inc. 18.5B 85 64 76 92 80 84 25 1
Skyworks Solutions, Inc. 15.5B 69 77 63 46 52 62 26 1
SolarEdge Technologies, Inc. 15.5B 77 62 78 96 85 81 27 1
Teradyne, Inc. 15.3B 49 81 62 45 47 52 28 1
Entegris, Inc. 14.1B 62 70 75 55 78 70 29 1
Qorvo, Inc. 10.2B 64 83 64 67 55 67 30 1
First Solar, Inc. 7.2B 76 70 50 58 58 59 31 1
Lattice Semiconductor Corporation 6.8B 53 79 78 60 64 68 32 1
MKS Instruments, Inc. 5.8B 60 73 73 76 72 70 33 1
Silicon Laboratories Inc. 5.3B 89 81 59 45 48 72 34 1
Universal Display Corporation 5.2B 57 76 83 85 69 75 35 1
CMC Materials, Inc. 5.1B 65 78 73 87 82 81 36 1
Tower Semiconductor Ltd. 5.1B 68 72 69 61 58 65 37 1
Synaptics Incorporated 4.9B 71 71 79 92 76 81 38 1
Power Integrations, Inc. 4.4B 56 82 58 79 53 61 39 1
Amkor Technology, Inc. 4.2B 70 68 75 74 77 75 40 1
Cirrus Logic, Inc. 4.1B 73 76 81 96 73 86 41 1
Allegro MicroSystems, Inc. 4.0B 68 69 74 81 76 74 42 1
SiTime Corporation 3.6B 57 67 66 73 64 59 43 1
Semtech Corporation 3.5B 58 79 68 67 64 67 44 1
MACOM Technology Solutions Holdings, Inc. 3.3B 65 75 74 38 74 70 45 1
FormFactor, Inc. 3.1B 72 70 84 82 80 84 46 1
Diodes Incorporated 3.0B 47 78 71 51 71 62 47 1
SunPower Corporation 3.0B 72 81 42 83 54 61 48 1
Silicon Motion Technology Corporation 2.8B 40 85 60 40 48 54 49 1
MaxLinear, Inc. 2.7B 68 71 75 85 74 76 50 1
Nova Ltd. 2.7B 86 45 75 48 82 61 51 1
Ambarella, Inc. 2.6B 46 75 74 86 65 64 52 1
Kulicke and Soffa Industries, Inc. 2.6B 46 83 60 76 56 58 53 1
Rambus Inc. 2.4B 43 83 41 95 54 48 54 1
Canadian Solar Inc. 2.0B 91 54 59 62 62 59 55 1
Axcelis Technologies, Inc. 1.9B 76 68 84 71 73 81 56 1
Credo Technology Group Holding Ltd 1.7B 94 61 78 79 86 88 57 1
Himax Technologies, Inc. 1.6B 78 55 91 85 95 77 58 1
Impinj, Inc. 1.4B 63 68 79 39 92 72 59 1
Ultra Clean Holdings, Inc. 1.4B 56 78 69 48 67 63 60 1
Cohu, Inc. 1.3B 53 82 57 59 58 58 61 1
Photronics, Inc. 1.2B 53 85 66 76 66 69 62 1
Camtek Ltd. 1.1B 63 61 82 37 90 66 63 1
SMART Global Holdings, Inc. 1.0B 89 63 75 95 82 86 64 1
Veeco Instruments Inc. 1.0B 84 71 41 78 47 58 65 1
Alpha and Omega Semiconductor Limited 929.5M 89 63 68 87 67 77 66 1
ACM Research, Inc. 917.6M 87 57 51 43 50 52 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 60 93 47 85 74 72 68 1
PDF Solutions, Inc. 808.6M 54 81 63 90 51 63 69 1
CEVA, Inc. 778.5M 81 74 60 87 60 73 70 1
Ichor Holdings, Ltd. 754.1M 59 76 66 38 63 60 71 1
indie Semiconductor, Inc. 720.1M 48 54 72 56 55 44 72 1
Maxeon Solar Technologies, Ltd. 575.9M 87 68 40 78 38 53 73 1
Navitas Semiconductor Corporation 533.1M 37 80 80 62 79 67 74 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 60 71 61 60 69 56 75 1
Rigetti Computing, Inc. 413.5M 93 62 85 99 98 98 76 1
Meta Materials Inc. 396.9M 51 78 42 41 51 42 77 1
Helix Technology Corporation 364.9M 65 78 79 85 52 65 78 1
CyberOptics Corporation 272.8M 71 66 72 64 86 75 79 1
Transphorm, Inc. 255.8M 41 86 39 47 54 45 80 1

Income Statement Analysis

NeoPhotonics appears likely to maintain its strong income statement metrics and momentum going forward. NeoPhotonics's management was effective in improving its EBIDTA, which now sits at -1.0 and represents a 88.2% change from the last reporting period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 13.2%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. The company's EBITDA movement, therefore, received a grade of 95. Also, NeoPhotonics's reported return on equity (ROE) ratio was -20.8, representing a change of 15.0%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. Therefore, its return factors component earned a score of 90. At the same time, one critical income statement metric, Revenue Efficiency, was notably weak. NeoPhotonics management did an underwhelming job managing revenue efficiency this past period. NeoPhotonics's revenue efficiency is 318.6 according to the metrics in the current filing, which represents a 9.8% change from the previous report. This metric might have a 18.5 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency does not make a compelling case for upward pressure on the company's stock price. As a result, their revenue efficiency earned a score of 45. Therefore, we scored its income statement a 69.

Parameter Value Change Score
EBITDA -1.0 88.2% 95
Total Revenues 318.6 9.8% 45
Return on Equity -20.8 15.0% 90
* All values are TTM

The below chart describes NeoPhotonics's performance as reflected on its income statement with respect to its peers. While NeoPhotonics received a income statement score of 69 , the average of its peers stands on 68.0.

  •  NPTN
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Wolfspeed, Inc. 8.2B 49 90 86 69 0 1
Daqo New Energy Corp. 5.0B 37 95 94 65 1 1
Onto Innovation Inc. 3.6B 47 87 89 67 2 1
JinkoSolar Holding Co., Ltd. 3.2B 38 89 82 62 3 1
Magnachip Semiconductor Corporation 667.1M 94 80 88 90 4 1
Mykrolis Corp. 657.1M 68 68 58 67 5 1
Valens Semiconductor Ltd. 357.2M 41 86 65 65 6 1
Rockley Photonics Holdings Limited 305.7M 97 50 85 79 7 1
NVIDIA Corporation 400.2B 46 83 67 63 8 1
Intel Corporation 154.5B 90 55 74 76 9 1
QUALCOMM Incorporated 147.4B 48 87 78 66 10 1
Texas Instruments Incorporated 142.2B 69 78 70 74 11 1
Advanced Micro Devices, Inc. 130.9B 40 89 38 59 12 1
Broadcom Inc. 102.5B 59 80 90 71 13 1
Applied Materials, Inc. 82.7B 72 68 73 72 14 1
Analog Devices, Inc. 77.2B 40 91 92 65 15 1
Micron Technology, Inc. 64.6B 59 87 90 74 16 1
Lam Research Corporation 60.8B 80 64 75 74 17 1
KLA Corporation 49.3B 56 77 76 67 18 1
NXP Semiconductors N.V. 40.5B 59 79 90 71 19 1
Marvell Technology, Inc. 38.5B 41 89 87 64 20 1
Microchip Technology Incorporated 33.0B 57 83 92 71 21 1
Enphase Energy, Inc. 25.7B 45 74 55 57 22 1
GLOBALFOUNDRIES Inc. 23.9B 50 92 86 70 23 1
ON Semiconductor Corporation 22.9B 53 92 94 73 24 1
Monolithic Power Systems, Inc. 18.5B 45 90 83 66 25 1
Skyworks Solutions, Inc. 15.5B 69 71 63 70 26 1
SolarEdge Technologies, Inc. 15.5B 41 70 48 53 27 1
Teradyne, Inc. 15.3B 88 57 62 75 28 1
Entegris, Inc. 14.1B 56 80 80 69 29 1
Qorvo, Inc. 10.2B 76 65 63 72 30 1
First Solar, Inc. 7.2B 98 43 40 73 31 1
Lattice Semiconductor Corporation 6.8B 54 88 89 71 32 1
MKS Instruments, Inc. 5.8B 78 67 65 74 33 1
Silicon Laboratories Inc. 5.3B 44 96 98 70 34 1
Universal Display Corporation 5.2B 71 64 61 68 35 1
CMC Materials, Inc. 5.1B 72 75 93 76 36 1
Tower Semiconductor Ltd. 5.1B 63 87 82 79 37 1
Synaptics Incorporated 4.9B 45 91 90 68 38 1
Power Integrations, Inc. 4.4B 80 76 82 80 39 1
Amkor Technology, Inc. 4.2B 63 76 77 70 40 1
Cirrus Logic, Inc. 4.1B 42 92 93 67 41 1
Allegro MicroSystems, Inc. 4.0B 68 48 69 61 42 1
SiTime Corporation 3.6B 40 93 78 64 43 1
Semtech Corporation 3.5B 64 84 87 75 44 1
MACOM Technology Solutions Holdings, Inc. 3.3B 74 77 72 76 45 1
FormFactor, Inc. 3.1B 79 76 83 80 46 1
Diodes Incorporated 3.0B 66 83 86 76 47 1
SunPower Corporation 3.0B 49 43 74 49 48 1
Silicon Motion Technology Corporation 2.8B 54 83 78 72 49 1
MaxLinear, Inc. 2.7B 56 92 96 75 50 1
Nova Ltd. 2.7B 41 89 78 69 51 1
Ambarella, Inc. 2.6B 56 89 79 72 52 1
Kulicke and Soffa Industries, Inc. 2.6B 73 82 85 79 53 1
Rambus Inc. 2.4B 48 86 60 64 54 1
Canadian Solar Inc. 2.0B 73 76 53 72 55 1
Axcelis Technologies, Inc. 1.9B 44 91 91 67 56 1
Credo Technology Group Holding Ltd 1.7B 38 88 61 60 57 1
Himax Technologies, Inc. 1.6B 53 84 66 70 58 1
Impinj, Inc. 1.4B 64 53 51 59 59 1
Ultra Clean Holdings, Inc. 1.4B 53 73 71 63 60 1
Cohu, Inc. 1.3B 92 53 49 75 61 1
Photronics, Inc. 1.2B 55 86 92 71 62 1
Camtek Ltd. 1.1B 50 81 71 68 63 1
SMART Global Holdings, Inc. 1.0B 48 87 66 65 64 1
Veeco Instruments Inc. 1.0B 66 84 91 76 65 1
Alpha and Omega Semiconductor Limited 929.5M 62 75 76 69 66 1
ACM Research, Inc. 917.6M 88 43 42 67 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 90 59 63 70 68 1
PDF Solutions, Inc. 808.6M 49 95 88 71 69 1
CEVA, Inc. 778.5M 51 90 97 71 70 1
Ichor Holdings, Ltd. 754.1M 72 60 54 67 71 1
indie Semiconductor, Inc. 720.1M 37 46 71 43 72 1
Maxeon Solar Technologies, Ltd. 575.9M 50 49 60 49 73 1
Navitas Semiconductor Corporation 533.1M 56 44 74 53 74 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 87 49 76 66 75 1
Rigetti Computing, Inc. 413.5M 92 43 69 72 76 1
Meta Materials Inc. 396.9M 37 45 72 43 77 1
Helix Technology Corporation 364.9M 89 47 50 74 78 1
CyberOptics Corporation 272.8M 54 86 87 71 79 1
Transphorm, Inc. 255.8M 37 81 97 68 80 1

Cash Flow Analysis

Overall, NeoPhotonics's critical cash flow metrics appear to signal strong support and a high likelihood of positive growth going forward. NeoPhotonics is doing a remarkable job of keeping its asset turnover under control. At filing, their asset turnover metrics were 1.0, representing a 11.6% change from the previous period. This metric might have a 10.7 percent impact on companies in the same industry and with the same market capitalization. Their asset turnover numbers are significantly more impressive when contrasted against their peers and competitors. Therefore, its asset turnover movement earned a score of 87. Also, NeoPhotonics's management was effective in improving its CapEx, which now sits at -10.3 and represents -2.9% change from the previous report. This performance is all the more impressive relative to their peers and competitors. Therefore, its CapEx movement component earned a score of 67. However, one discouraging result, Net Cash Flow, stood out. NeoPhotonics's net cash flow metrics were -4.4 according to their current filing, which represents a 75.0% change from the previous report. NeoPhotonics's net cash flow metrics are especially disappointing relative to their peers. Its net cash flow, therefore, received a grade of 50. Because its management is doing an excellent job managing these critical metrics, the cash flow was given a score of 71.

Parameter Value Change Score
Net Cashflow -4.4 75.0% 50
Capital Expenditure -10.3 -2.9% 67
Asset Turnover 1.0 11.6% 87
Free Cashflow -0.7 -6.9% 63
* All values are TTM

The below chart describes NeoPhotonics's performance as reflected on its cash flow with respect to its peers. While NeoPhotonics received a cash flow score of 71, the average of its peers stands on 69.0.

  •  NPTN
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Wolfspeed, Inc. 8.2B 57 74 76 46 55 0 1
Daqo New Energy Corp. 5.0B 78 86 63 96 89 1 1
Onto Innovation Inc. 3.6B 94 65 88 85 85 2 1
JinkoSolar Holding Co., Ltd. 3.2B 68 69 73 78 74 3 1
Magnachip Semiconductor Corporation 667.1M 65 56 76 54 57 4 1
Mykrolis Corp. 657.1M 65 69 68 82 75 5 1
Valens Semiconductor Ltd. 357.2M 53 89 90 47 66 6 1
Rockley Photonics Holdings Limited 305.7M 79 72 66 47 60 7 1
NVIDIA Corporation 400.2B 93 65 61 86 82 8 1
Intel Corporation 154.5B 58 72 68 53 58 9 1
QUALCOMM Incorporated 147.4B 65 65 70 87 77 10 1
Texas Instruments Incorporated 142.2B 74 74 63 69 70 11 1
Advanced Micro Devices, Inc. 130.9B 93 66 69 37 57 12 1
Broadcom Inc. 102.5B 75 76 87 89 85 13 1
Applied Materials, Inc. 82.7B 75 59 69 72 69 14 1
Analog Devices, Inc. 77.2B 78 76 51 94 84 15 1
Micron Technology, Inc. 64.6B 81 85 81 74 80 16 1
Lam Research Corporation 60.8B 72 60 56 75 69 17 1
KLA Corporation 49.3B 70 76 52 79 74 18 1
NXP Semiconductors N.V. 40.5B 59 72 51 85 73 19 1
Marvell Technology, Inc. 38.5B 94 84 58 46 65 20 1
Microchip Technology Incorporated 33.0B 80 79 48 84 79 21 1
Enphase Energy, Inc. 25.7B 89 77 64 41 60 22 1
GLOBALFOUNDRIES Inc. 23.9B 54 86 45 64 63 23 1
ON Semiconductor Corporation 22.9B 60 79 55 74 70 24 1
Monolithic Power Systems, Inc. 18.5B 84 78 59 74 77 25 1
Skyworks Solutions, Inc. 15.5B 78 57 79 73 71 26 1
SolarEdge Technologies, Inc. 15.5B 46 38 55 52 43 27 1
Teradyne, Inc. 15.3B 75 65 66 68 68 28 1
Entegris, Inc. 14.1B 61 57 50 76 65 29 1
Qorvo, Inc. 10.2B 78 65 87 71 73 30 1
First Solar, Inc. 7.2B 47 85 56 46 53 31 1
Lattice Semiconductor Corporation 6.8B 79 77 43 82 77 32 1
MKS Instruments, Inc. 5.8B 58 58 92 56 59 33 1
Silicon Laboratories Inc. 5.3B 71 89 81 87 86 34 1
Universal Display Corporation 5.2B 75 81 68 65 71 35 1
CMC Materials, Inc. 5.1B 72 66 68 80 74 36 1
Tower Semiconductor Ltd. 5.1B 76 57 55 59 68 37 1
Synaptics Incorporated 4.9B 85 62 98 55 66 38 1
Power Integrations, Inc. 4.4B 88 77 64 82 82 39 1
Amkor Technology, Inc. 4.2B 46 57 62 71 60 40 1
Cirrus Logic, Inc. 4.1B 83 98 61 90 90 41 1
Allegro MicroSystems, Inc. 4.0B 56 56 77 56 56 42 1
SiTime Corporation 3.6B 83 87 56 44 62 43 1
Semtech Corporation 3.5B 79 78 58 79 77 44 1
MACOM Technology Solutions Holdings, Inc. 3.3B 46 78 54 78 68 45 1
FormFactor, Inc. 3.1B 78 81 66 58 67 46 1
Diodes Incorporated 3.0B 77 61 52 80 72 47 1
SunPower Corporation 3.0B 84 41 39 93 74 48 1
Silicon Motion Technology Corporation 2.8B 63 53 46 85 61 49 1
MaxLinear, Inc. 2.7B 90 92 80 81 88 50 1
Nova Ltd. 2.7B 58 53 39 58 54 51 1
Ambarella, Inc. 2.6B 84 95 45 75 79 52 1
Kulicke and Soffa Industries, Inc. 2.6B 93 81 83 74 82 53 1
Rambus Inc. 2.4B 96 73 89 88 89 54 1
Canadian Solar Inc. 2.0B 69 70 74 66 71 55 1
Axcelis Technologies, Inc. 1.9B 81 77 68 84 82 56 1
Credo Technology Group Holding Ltd 1.7B 60 85 37 43 53 57 1
Himax Technologies, Inc. 1.6B 66 77 48 77 66 58 1
Impinj, Inc. 1.4B 70 38 85 73 65 59 1
Ultra Clean Holdings, Inc. 1.4B 68 41 41 76 61 60 1
Cohu, Inc. 1.3B 92 62 71 44 59 61 1
Photronics, Inc. 1.2B 65 92 96 79 82 62 1
Camtek Ltd. 1.1B 69 70 74 72 71 63 1
SMART Global Holdings, Inc. 1.0B 48 85 95 53 62 64 1
Veeco Instruments Inc. 1.0B 74 82 48 69 71 65 1
Alpha and Omega Semiconductor Limited 929.5M 49 64 45 60 54 66 1
ACM Research, Inc. 917.6M 61 43 50 54 50 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 64 63 74 73 68 68 1
PDF Solutions, Inc. 808.6M 81 98 45 92 89 69 1
CEVA, Inc. 778.5M 57 54 84 83 71 70 1
Ichor Holdings, Ltd. 754.1M 51 37 87 70 58 71 1
indie Semiconductor, Inc. 720.1M 69 80 52 98 85 72 1
Maxeon Solar Technologies, Ltd. 575.9M 87 90 59 88 84 73 1
Navitas Semiconductor Corporation 533.1M 70 87 94 93 90 74 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 66 64 68 94 73 75 1
Rigetti Computing, Inc. 413.5M 48 76 51 60 58 76 1
Meta Materials Inc. 396.9M 85 56 68 97 84 77 1
Helix Technology Corporation 364.9M 75 62 63 56 61 78 1
CyberOptics Corporation 272.8M 49 74 89 77 72 79 1
Transphorm, Inc. 255.8M 81 88 96 95 88 80 1

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