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Business Wire (Fri, 3:08PM)
Business Wire (Dec 23, 2013)
NPTN vs. ETF Alternatives
NeoPhotonics Corp., is a a designer and manufacturer of PIC-based modules and subsystems for bandwidth-intensive, high-speed communications networks. It has a broad portfolio of over 300 products, including high-speed products.
Friday, Jan 311:56 PM
Friday, Jan 311:56 PM| Comment!
- With help from an upgrade to Outperform from William Blair, JDS Uniphase (JDSU +6.9%) is shooting higher following its FQ2 beat, which was accompanied by strong FQ3 guidance and news of two acquisitions.
- Optical component peers Finisar (FNSR +4.5%), Oclaro (OCLR +5.7%), and NeoPhotonics (NPTN +6.5%) are following JDS higher. The fact JDS' optical communications product sales rose 12.1% Y/Y (up from 8.1% in FQ1) is likely going over well.
- Blair's Dmitry Netis is upbeat about JDS' improving carrier test equipment/software business: He expects it will return to positive growth in FQ3 after years of declines, grow 2.5% in FY14 (ends in June), and grow 9% in FY15.
- MKM (Neutral, PT upped to $15 from $13) observes rising 100G optical component demand (previous) is giving JDS a lift; Finisar and NeoPhotonics also have solid 100G exposure.
- Barclays is pleased FQ3 revenue is expected to grow 6% excluding a gesture recognition business affected by Xbox One/Kinect seasonality, but nonetheless considers Finisar a better investment due to its "cleaner" datacom exposure.
- CC transcript
Wednesday, Jan 224:05 PM
Wednesday, Jan 224:05 PM| Comment!
- After reporting an EPS beat and in-line revenue this morning, Adtran (ADTN +4.5%) guided on its CC for Q1 revenue to be flat to down by a mid-single digit percentage Q/Q.
- Though the consensus is for revenue to be down less than 1% Q/Q to $158.8M, investors are taking heart in Adtran's forecast, given it follows warnings from several telecom equipment names.
- A slew of telecom equipment and component/chip vendors followed Adtran higher today. JDSU +3.1%. NPTN +4.6%. FNSR +2.3%. [CIEN] +2.1%. ALLT +2.6%. PKT +1.8%. CALX +1.7%.
Monday, Dec 232013, 6:06 PM|Monday, Dec 232013, 6:06 PM| Comment!
Wednesday, Dec 182013, 12:45 PM|Wednesday, Dec 182013, 12:45 PM| Comment!
Wednesday, Dec 182013, 10:46 AM|Wednesday, Dec 182013, 10:46 AM| Comment!
Friday, Nov 152013, 9:56 AM
Friday, Nov 152013, 9:56 AM| Comment!
- Needham takes a step back from NeoPhotonics (NPTN -2.4%) and lowers its rating to Buy from Strong Buy with a reduced PT of $10 (from $13 previously).
- Analyst Alex Henderson notes that although NeoPhotonics' results and guidance were relatively in-line, they were below levels that would justify Needham's previous view.
- The company's announcement that it will restate its financials reflects an "accounting visibility issue" that may persist for "some time" until the company delivers its Q3 report, the analyst observed.
Thursday, Nov 142013, 3:51 PM
Thursday, Nov 142013, 3:51 PM| Comment!
- NeoPhotonics (NPTN -20.7%) shares plunge after the company delayed its 10-Q filing due to a real estate registration tax of $0.5M that should have been expensed as an acquisition cost. Due to the mistake, NPTN will restate its statements for Q1 and Q2.
- The company reports preliminary Q3 revenue of $76.8M (+16.1% Y/Y), slightly above consensus of $76.2M.
- Management guides for Q4 revenue of $70M-$76M (vs. consensus of $76.1M) and gross margins of 24%-28%
- It also announced that Deloitte has been appointed its independent auditor, replacing PwC.
- Also hurting shares: yesterday's dour guidance from Cisco.
Thursday, Nov 142013, 12:45 PM|Thursday, Nov 142013, 12:45 PM| Comment!
Thursday, Nov 142013, 10:13 AM
Thursday, Nov 142013, 10:13 AM| 3 Comments
- The list of enterprise hardware/software, telecom equipment, and component/chip suppliers selling off (previous) due to Cisco's poor guidance and order data now includes Oracle (ORCL -2.4%), EZchip (EZCH -6.1%), Riverbed (RVBD -6%, shot higher yesterday on M&A hopes), NeoPhotonics (NPTN -6.6%), Ixia (XXIA -4.7%), Oclaro (OCLR -4%), Procera (PKT -2.3%), and Alliance Fiber (AFOP -3.8%).
- Cisco's weak service provider (-13% Y/Y) and emerging markets (-12%) orders are worrying investors in peers/suppliers, particularly given some peers (I, II) have also reported of soft carrier and/or EM demand. John Chambers' admission the NSA spying scandal has affected sales in China (orders -18%) also isn't going over well.
- However, many on the sell-side argue a big portion of Cisco's problems are tied to company-specific product issues.
- H-P (HPQ -5.6%), which has plenty of Chinese exposure, has added considerably to yesterday's AH losses, and so have Ciena (CIEN -5.3%) and Finisar (FNSR -10%). H-P's FQ4 report is due on Nov. 26, and Ciena's FQ4 report arrives on Dec. 12.
Tuesday, Nov 52013, 11:33 AM
Tuesday, Nov 52013, 11:33 AM| Comment!
- Fabrinet (FN +11%) has made new 52-week highs after soundly beating FQ1 estimates. The optical component contract manufacturer's FQ2 guidance - revenue of $170M-$174M and EPS of $0.40-$0.42 vs. a consensus of $169M and $0.36 - also isn't hurting.
- Several optical component vendors are getting a lift from the numbers: FNSR +4.5%. JDSU +1.4%. OPLK +2%. OCLR +1%. NPTN +1.4%.
- On its CC (transcript), Fabrinet mentioned optical communications sales rose 12% Q/Q, with healthy demand for both telecom and datacom products, and that "the underlying fundamentals of [Fabrinet's] Optical business remain strong" thanks to improving end-market demand and rising sales of advanced components/modules.
- Strategy chief John Marchetti mentioned datacom sales growth is still outpacing telecom growth, but added telecom sales are starting to "really grow again," and that additional segment growth is expected in FQ2 even as the company maintains a cautious outlook thanks to past disappointments.
- Those comments are a breath of fresh air for optical component firms, given they come in the wake of disappointing guidance from JDS Uniphase and equipment vendors.
Thursday, Oct 242013, 11:44 AM
Thursday, Oct 242013, 11:44 AM| 5 Comments
- Though its Q3 results beat estimates, Infinera (INFN -9.4%) guided on its CC (transcript) for Q4 revenue of $130M-$140M and EPS of breakeven to -$0.04, below a consensus of $141.1M and $0.03. Gross margin is expected to fall back to ~40% after rising to 49% in Q3 (+1000 bps Q/Q and Y/Y).
- While Infinera expects to benefit from "a number of significant new wins and deployments" in Q4, the company doesn't "expect significant budget flush or year-end money" from carriers.
- Moreover, while Infinera has won a number of new deals - five new purchase commitments were scored for its DTN-X optical transmission platform - deal timing "remains challenging because of [Infinera's] short lead times and the strategic nature of many of these customer decisions."
- Ciena (CIEN -7.3%) is selling off on the guidance and commentary, as are many optical component suppliers. Ericsson's numbers might not be helping either. CIEN -7.6%. FNSR -7.2%. JDSU -3.4%. NPTN -2.4%. OCLR -2.3%. AFOP -3.2%.
- Infinera also disclosed CFO Ita Brennan is resigning, effective Feb. 28, 2014, to work for a startup. The company says it will start a search for a replacement.
Wednesday, Sep 42013, 3:01 PM
Wednesday, Sep 42013, 3:01 PM| 2 Comments
- Equipment vendors Adtran (ADTN +10.1%), Ruckus (RKUS +4.5%), Aruba (ARUN +2.5%), Ericsson (ERIC +2.2%), Procera (PKT +2.1%) and Calix (CALX +2.3%), and component/chip suppliers Oplink (OPLK +4.1%), NeoPhotonics (NPTN +2.3%), Alliance Fiber (AFOP +3.1%), AppliedMicro (AMCC +5%), and PMC-Sierra (PMCS +1.9%) have joined the ranks of names outperforming following Ciena's (CIEN +13.6%) strong numbers (fueled by strong demand for metro/edge networking hardware) and Juniper's upbeat conference comments about Q3 bookings and router demand.
- Ciena mentioned on its FQ3 CC U.S. orders were relatively strong (likely a sign of strong AT&T/Verizon spending), as North American carriers lead the way in adopting newer technology platforms (100G optical, integrated Ethernet/optical hardware, etc.), However, the company also claimed Europe is stabilizing, and that it's seeing new customer wins in Latin America/Asia.
- Ciena also touted its share gains, noting Heavy Reading calls it the leader in the fiber-based Ethernet access switch space, and that Dell'Oro ranks its first in the integrated Ethernet/optical market. However, it does look as if Ciena has lost some share in optical transport (revenue +15% Q/Q but -26% Y/Y). The company says new customer wins will lead transport growth to pick up.
Thursday, Aug 292013, 5:25 PM
Thursday, Aug 292013, 5:25 PM| Comment!
- NeoPhotonics (NPTN) says CFO James Fay has resigned to "pursue another career opportunity."
- Fay — who characterized the decision to leave the company as "difficult" — will remain with NPTN until November 11 and will be available as a consultant through March 15 of next year.
- Cal Hoagland has been retained as interim CFO. (PR)
Wednesday, Aug 282013, 10:49 AM
Wednesday, Aug 282013, 10:49 AM| Comment!
- RF component makers Skyworks (SWKS +2.7%), RF Micro (RFMD +2.9%), TriQuint (TQNT +2.5%), and Anadigics (ANAD +2.8%) are outperforming after peer Avago (AVGO +4%) blew past FQ3 estimates and issued strong FQ4 guidance, while predicting it would get a boost from "very strong product ramps in wireless." Other than Anadigics, all of the aforementioned companies are iPhone suppliers.
- Non-RF Apple suppliers Cirrus Logic (CRUS +7%), OmniVision (OVTI +2.1%), SanDisk (SNDK +2%), and Nam Tai (NTE +3.2%) are also faring well.
- On the FQ3 CC, Avago asserted once again the technical demands of 4G radios are helping it gain RF component share, and noted its "two largest smartphone customers" (Apple and Samsung) are ramping next-gen platforms (the iPhone 5S/5C and Galaxy Note 3). Avago says it expects its "content in both these platforms continue to improve substantially."
- On the wireline/networking side, Avago is upbeat about improving core router demand, the adoption of 40G switches within data centers, CyOptics' sales, and strong 10G/40G optical transceiver demand. The last two are positives for JDSU, FNSR, and NPTN.
- Goldman, RBC, and Canaccord have hiked their Avago PTs.
Friday, Aug 92013, 12:46 PM|Friday, Aug 92013, 12:46 PM| Comment!
Friday, Aug 92013, 12:43 PM
Friday, Aug 92013, 12:43 PM| Comment!
- NeoPhotonics (NPTN -13.6%) shares are slumping after the company provided underwhelming Q3 guidance to go with its Q2 beat.
- Revenue guidance of $72M-78M is below a consensus of $83.7M. EPS guidance of -$0.14 to -$0.04 is below a consensus of $0.05. (8-K).
- The numbers come shortly after telecom optical component rival Finisar raised its July quarter guidance, and saw its shares take off in response. However, Finisar's guidance hike had more to do with datacom, rather than telecom, component sales.
- View all 13 replies
Perkins Cove:: Just kidding of course........ok, maybe not......grin
nclsamy:: Thank you for letting me know. I am deeply sorry. SA community lost a great member and a wonderful example of both investing and humanity.