Diosdado P. Banatao Sells 9,000 Shares of Inphi Corp. (IPHI) Stock
Inphi Corp. (NYSE:IPHI) Director Diosdado P. Banatao sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $46.79, for a total transaction of $421,110.00. Following the completion of the sale, the director now owns 3,214 shares of the company’s stock, valued at $150,383.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Inphi Corp. (NYSE:IPHI) opened at 46.53 on Wednesday. The company has a market capitalization of $1.92 billion, a PE ratio of 25.64 and a beta of 1.43. Inphi Corp. has a 52 week low of $22.07 and a 52 week high of $47.60. The company has a 50-day moving average of $41.69 and a 200-day moving average of $37.66.
Inphi Corp. (NYSE:IPHI) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. The firm had revenue of $70.70 million for the quarter, compared to analyst estimates of $67.88 million. Inphi Corp. had a net margin of 29.65% and a return on equity of 9.34%. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that Inphi Corp. will post $1.49 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Inphi Corp. from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a research note on Tuesday, August 9th. JPMorgan Chase & Co. started coverage on shares of Inphi Corp. in a research report on Tuesday, August 30th. They set an “overweight” rating and a $55.00 price objective for the company. Northland Securities downgraded shares of Inphi Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. B. Riley restated a “buy” rating and set a $46.00 price objective on shares of Inphi Corp. in a research report on Sunday, August 14th. Finally, TheStreet upgraded shares of Inphi Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.00.
Several institutional investors have recently modified their holdings of IPHI. Tower Research Capital LLC TRC bought a new position in shares of Inphi Corp. during the second quarter worth approximately $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 during 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 during the last quarter. Bank of Montreal Can bought a new position in shares of Inphi Corp. during the second quarter worth approximately $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 during the last quarter. 98.18% of the stock is currently owned by hedge funds and other institutional investors.
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.
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