Inphi Corp. (IPHI) Coverage Initiated by Analysts at Cowen and Company
Research analysts at Cowen and Company started coverage on shares of Inphi Corp. (NYSE:IPHI) in a research note issued to investors on Friday. The firm set a “market perform” rating and a $39.00 price target on the stock. Cowen and Company’s price target would suggest a potential downside of 3.27% from the stock’s previous close.
Several other research analysts also recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 price target (up from $44.00) on shares of Inphi Corp. in a report on Thursday. Zacks Investment Research downgraded Inphi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Group reiterated a “buy” rating on shares of Inphi Corp. in a report on Thursday, September 8th. Northland Securities downgraded Inphi Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Finally, JPMorgan Chase & Co. assumed coverage on Inphi Corp. in a report on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.03.
Shares of Inphi Corp. (NYSE:IPHI) traded down 1.98% during mid-day trading on Friday, hitting $39.52. The stock had a trading volume of 222,715 shares. Inphi Corp. has a 12-month low of $22.07 and a 12-month high of $44.82. The stock’s market cap is $1.61 billion. The company’s 50 day moving average price is $41.79 and its 200 day moving average price is $35.45.
Inphi Corp. (NYSE:IPHI) last issued its quarterly earnings data 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 firm earned $60.50 million during the quarter, compared to the consensus estimate of $69.34 million. During the same period in the previous year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that Inphi Corp. will post $1.35 EPS for the current fiscal year.
In other Inphi Corp. news, Director Sam Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $41.40, for a total value of $414,000.00. Following the completion of the transaction, the director now directly owns 10,537 shares of the company’s stock, valued at approximately $436,231.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ron Torten sold 1,111 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were 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 directly owns 61,000 shares of the company’s stock, valued at $2,577,250. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in Inphi Corp. during the first quarter worth $767,000. Harvest Capital Strategies LLC boosted its position in Inphi Corp. by 177.9% in the first quarter. Harvest Capital Strategies LLC now owns 53,982 shares of the company’s stock worth $1,800,000 after buying an additional 34,554 shares during the last quarter. HBK Investments L P boosted its position in Inphi Corp. by 126.5% in the first quarter. HBK Investments L P now owns 80,855 shares of the company’s stock worth $2,696,000 after buying an additional 45,155 shares during the last quarter. Bogle Investment Management L P DE boosted its position in Inphi Corp. by 14.7% in the first quarter. Bogle Investment Management L P DE now owns 195,184 shares of the company’s stock worth $6,507,000 after buying an additional 24,972 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Inphi Corp. by 146.0% in the first quarter. Wellington Management Group LLP now owns 1,582,150 shares of the company’s stock worth $52,748,000 after buying an additional 939,018 shares during the last quarter. 90.48% of the stock is owned by institutional investors.
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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