Inphi Corp. (IPHI) Given Buy Rating at Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Inphi Corp. (NYSE:IPHI) in a report published on Thursday. The firm currently has a $48.00 price target on the stock, up from their prior price target of $44.00.
A number of other brokerages have also issued reports on IPHI. Zacks Investment Research raised shares of Inphi Corp. from a sell rating to a hold rating and set a $47.00 price objective for the company in a report on Tuesday, August 9th. Jefferies Group reaffirmed a buy rating and set a $38.00 price objective on shares of Inphi Corp. in a report on Tuesday, July 5th. B. Riley reaffirmed a buy rating and set a $46.00 price objective on shares of Inphi Corp. in a report on Sunday, August 14th. Needham & Company LLC increased their price objective on shares of Inphi Corp. from $44.00 to $45.00 and gave the company a strong-buy rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Inphi Corp. in a report on Tuesday, August 30th. They set an overweight rating and a $55.00 price objective for the company. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $39.03.
Shares of Inphi Corp. (NYSE:IPHI) opened at 39.32 on Thursday. The company’s market capitalization is $1.60 billion. Inphi Corp. has a 12-month low of $22.07 and a 12-month high of $44.82. The company’s 50-day moving average is $41.52 and its 200-day moving average is $35.58.
Inphi Corp. (NYSE:IPHI) last released its 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. The company earned $60.50 million during the quarter, compared to analyst estimates of $69.34 million. Inphi Corp. had a negative net margin of 1.16% and a positive return on equity of 7.29%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. Analysts predict that Inphi Corp. will post $1.35 EPS for the current year.
In other news, VP Ron Torten sold 1,111 shares of the firm’s 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 transaction, the vice president now owns 61,000 shares in the company, valued at $2,577,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sam Srinivasan sold 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $41.40, for a total value of $414,000.00. Following the transaction, the director now owns 10,537 shares in the company, valued at approximately $436,231.80. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Inphi Corp. during the second quarter valued at 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 valued at $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 valued at $159,000 after buying an additional 1,347 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Inphi Corp. during the second quarter valued at 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 valued at $182,000 after buying an additional 2,197 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.
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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