Zacks Investment Research cut shares of Inphi Corp. (NYSE:IPHI) from a buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Inphi Corporation operates as a provider of fabless high-speed analog semiconductor solutions for the communications and computing markets. Its solutions provides interface between analog signals and digital information in high-performance systems such as telecommunications transport systems, enterprise networking equipment, datacenter and enterprise servers, storage platforms, test and measurement equipment and military systems. The Company’s products are designed into systems sold by OEMs, including Agilent Technologies, Inc., Alcatel-Lucent, Cisco Systems, Inc., Danaher Corporation, Dell Inc., EMC Corporation, Hewlett-Packard Company, Huawei, International Business Machines Corporation and Oracle Corporation. Inphi Corporation is headquartered in Santa Clara, California “
IPHI has been the subject of several other research reports. JPMorgan Chase & Co. initiated coverage on Inphi Corp. in a report on Tuesday, August 30th. They set an overweight rating and a $55.00 price target for the company. Roth Capital reiterated a buy rating on shares of Inphi Corp. in a report on Tuesday, June 28th. Jefferies Group reiterated a buy rating on shares of Inphi Corp. in a report on Thursday, September 8th. Stifel Nicolaus upped their price target on Inphi Corp. from $40.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, August 9th. Finally, Needham & Company LLC reiterated a strong-buy rating and set a $40.00 price target on shares of Inphi Corp. in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $39.03.
Shares of Inphi Corp. (NYSE:IPHI) opened at 38.60 on Wednesday. Inphi Corp. has a one year low of $22.07 and a one year high of $44.82. The firm’s 50-day moving average price is $41.60 and its 200 day moving average price is $35.55. The firm’s market cap is $1.57 billion.
Inphi Corp. (NYSE:IPHI) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. Inphi Corp. had a positive return on equity of 7.29% and a negative net margin of 1.16%. The business earned $60.50 million during the quarter, compared to the consensus estimate of $69.34 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. Inphi Corp.’s revenue was up 22.2% compared to the same quarter last year. Analysts predict that Inphi Corp. will post $1.35 EPS for the current year.
In related news, Director Sam Srinivasan sold 10,000 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $41.40, for a total transaction of $414,000.00. Following the sale, the director now owns 10,537 shares of the company’s stock, valued at approximately $436,231.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ron Torten sold 1,111 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $42.25, for a total value of $46,939.75. Following the sale, the vice president now directly owns 61,000 shares in the company, valued at approximately $2,577,250. The disclosure for this sale can be found here. Corporate insiders own 4.22% of the company’s stock.
A number of hedge funds have recently modified their holdings of IPHI. Tower Research Capital LLC TRC acquired a new position in shares of Inphi Corp. during the second quarter worth $112,000. BlackRock Inc. raised its position in shares of Inphi Corp. by 57.9% in the second quarter. BlackRock Inc. now owns 3,839 shares of the company’s stock worth $123,000 after buying an additional 1,407 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Inphi Corp. by 37.2% in the second quarter. Teacher Retirement System of Texas now owns 4,964 shares of the company’s stock worth $159,000 after buying an additional 1,347 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Inphi Corp. during the second quarter worth $178,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Inphi Corp. by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,194 shares of the company’s stock worth $182,000 after buying an additional 2,197 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.
About Inphi Corp.
Inphi Corporation is a provider of analog and mixed signal semiconductor solutions for the communications, datacenter and computing markets. The Company’s solutions provide an interface between analog signals and digital information in systems, such as telecommunications transport systems, enterprise networking equipment, datacenters and enterprise servers, test and measurement equipment and military systems.