Inphi Corp. (IPHI) Stake Increased by ClariVest Asset Management LLC
ClariVest Asset Management LLC boosted its position in Inphi Corp. (NYSE:IPHI) by 61.4% during the second quarter, Holdings Channel reports. The institutional investor owned 70,064 shares of the company’s stock after buying an additional 26,654 shares during the period. ClariVest Asset Management LLC’s holdings in Inphi Corp. were worth $2,243,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Inphi Corp. by 146.0% in the first quarter. Wellington Management Group LLP now owns 1,582,150 shares of the company’s stock valued at $52,748,000 after buying an additional 939,018 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 during the period. State Street Corp increased its stake in shares of Inphi Corp. by 2.0% in the first quarter. State Street Corp now owns 810,065 shares of the company’s stock valued at $27,007,000 after buying an additional 15,844 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Inphi Corp. during the first quarter valued at about $9,150,000. Finally, Bogle Investment Management L P DE increased its stake in shares of 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 valued at $6,507,000 after buying an additional 24,972 shares during the period. 90.48% of the stock is currently owned by institutional investors.
Shares of Inphi Corp. (NYSE:IPHI) traded down 5.64% during trading on Tuesday, hitting $41.15. The stock had a trading volume of 985,069 shares. Inphi Corp. has a 52 week low of $22.07 and a 52 week high of $44.82. The stock’s market capitalization is $1.67 billion. The stock’s 50 day moving average is $42.02 and its 200 day moving average is $35.34.
Inphi Corp. (NYSE:IPHI) last released its quarterly earnings data on Monday, August 8th. The company reported $0.32 earnings per share for the quarter, beating the 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 company had revenue of $60.50 million for the quarter, compared to analyst estimates of $69.34 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that Inphi Corp. will post $1.35 earnings per share for the current fiscal year.
IPHI has been the topic of several recent research reports. Zacks Investment Research raised Inphi Corp. from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a report on Tuesday, August 9th. Jefferies Group reissued a “buy” rating and issued a $38.00 price target on shares of Inphi Corp. in a report on Tuesday, July 5th. B. Riley reissued a “buy” rating and issued a $46.00 price target on shares of Inphi Corp. in a report on Sunday, August 14th. Needham & Company LLC raised their price target on Inphi Corp. from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. began coverage on Inphi Corp. in a report on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 price target on the stock. Two 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. Inphi Corp. presently has a consensus rating of “Buy” and an average price target of $38.77.
In other news, VP Ron Torten sold 1,111 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $42.25, for a total value of $46,939.75. Following the transaction, the vice president now directly owns 61,000 shares of the company’s stock, valued at approximately $2,577,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ford Tamer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was 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.
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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