Inphi Corp. (IPHI) Downgraded by Zacks Investment Research to “Hold”
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 “
Several other brokerages have also recently commented on IPHI. Jefferies Group reiterated a buy rating and issued a $38.00 target price on shares of Inphi Corp. in a report on Tuesday, July 5th. B. Riley reiterated a buy rating and issued a $46.00 target price on shares of Inphi Corp. in a report on Sunday, August 14th. Needham & Company LLC upped their target price on Inphi Corp. from $44.00 to $45.00 and gave the company a strong-buy rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. initiated coverage on Inphi Corp. in a report on Tuesday, August 30th. They issued an overweight rating and a $55.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on Inphi Corp. from $40.00 to $44.00 and gave the company a buy rating in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $38.77.
Inphi Corp. (NYSE:IPHI) opened at 40.15 on Wednesday. The stock’s 50 day moving average is $41.85 and its 200 day moving average is $35.41. The company’s market capitalization is $1.63 billion. Inphi Corp. has a 52 week low of $22.07 and a 52 week high of $44.82.
Inphi Corp. (NYSE:IPHI) last announced its earnings results on Monday, August 8th. The company reported $0.32 EPS for the quarter, beating 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 had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $69.34 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Analysts predict that Inphi Corp. will post $1.35 EPS for the current fiscal year.
In other Inphi Corp. news, VP Ron Torten sold 1,111 shares of Inphi Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $42.25, for a total transaction of $46,939.75. Following the completion of the transaction, the vice president now owns 61,000 shares in the company, valued at $2,577,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ford Tamer sold 40,000 shares of Inphi Corp. stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $41.02, for a total value of $1,640,800.00. The disclosure for this sale can be found here. 4.22% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IPHI. TIAA CREF Investment Management LLC boosted its position in shares of Inphi Corp. by 60.8% in the first quarter. TIAA CREF Investment Management LLC now owns 194,626 shares of the company’s stock worth $6,489,000 after buying an additional 73,622 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Inphi Corp. by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,968 shares of the company’s stock valued at $40,474,000 after buying an additional 83,681 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new position in Inphi Corp. during the first quarter valued at $2,521,000. Menta Capital LLC acquired a new position in Inphi Corp. during the first quarter valued at $227,000. Finally, 1832 Asset Management L.P. acquired a new position in Inphi Corp. during the first quarter valued at $1,542,000. Institutional investors and hedge funds own 90.48% of the company’s stock.
Inphi Corp. Company Profile
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.
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