Inphi Corporation (IPHI) Given New $43.00 Price Target at Needham & Company LLC
Inphi Corporation (NYSE:IPHI) had its price objective dropped by research analysts at Needham & Company LLC from $46.00 to $43.00 in a research report issued on Monday. The firm currently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 23.96% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus restated a “buy” rating on shares of Inphi Corporation in a report on Friday, July 14th. Deutsche Bank AG cut their price target on Inphi Corporation from $55.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Zacks Investment Research cut Inphi Corporation from a “hold” rating to a “sell” rating in a report on Friday. Northland Securities restated a “hold” rating and set a $30.00 price target on shares of Inphi Corporation in a report on Thursday. Finally, Jefferies Group LLC cut their price target on Inphi Corporation from $60.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.90.
Shares of Inphi Corporation (IPHI) opened at 34.69 on Monday. Inphi Corporation has a 52 week low of $33.00 and a 52 week high of $51.78. The firm has a 50-day moving average price of $37.19 and a 200 day moving average price of $42.38. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 17.26 and a beta of 1.15.
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Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Inphi Corporation by 75,144.6% in the first quarter. BlackRock Inc. now owns 2,497,368 shares of the semiconductor company’s stock worth $121,921,000 after buying an additional 2,494,049 shares during the period. Pictet Asset Management Ltd. bought a new position in shares of Inphi Corporation during the first quarter worth approximately $19,816,000. Garelick Capital Partners LP bought a new position in shares of Inphi Corporation during the first quarter worth approximately $19,477,000. Clearbridge Investments LLC bought a new position in shares of Inphi Corporation during the first quarter worth approximately $18,202,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Inphi Corporation by 51.1% in the first quarter. Bank of New York Mellon Corp now owns 1,092,410 shares of the semiconductor company’s stock worth $53,331,000 after buying an additional 369,338 shares during the period.
About Inphi Corporation
Inphi Corporation is a provider of analog and mixed signal semiconductor solutions for the communications and datacenter markets. The Company’s solutions provide an interface between analog signals and digital information in systems, such as telecommunications transport systems, enterprise networking equipment and datacenters.
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