Inphi Corporation (IPHI) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Inphi Corporation (NYSE:IPHI) announced its quarterly earnings data on Monday. The semiconductor company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03, Morningstar.com reports. The firm had revenue of $84.40 million for the quarter, compared to the consensus estimate of $84 million. Inphi Corporation had a net margin of 21.98% and a return on equity of 9.71%. The company’s revenue was up 39.5% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Inphi Corporation updated its Q3 guidance to $0.33-$0.37 EPS.
Shares of Inphi Corporation (IPHI) opened at 36.66 on Wednesday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.24 and a beta of 1.15. Inphi Corporation has a 12-month low of $33.00 and a 12-month high of $51.78. The stock has a 50 day moving average of $37.04 and a 200 day moving average of $42.22.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Inphi Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. B. Riley restated a “buy” rating and set a $48.25 price objective on shares of Inphi Corporation in a research report on Wednesday, May 3rd. Cowen and Company decreased their price objective on shares of Inphi Corporation from $56.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 3rd. Deutsche Bank AG cut their target price on shares of Inphi Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Inphi Corporation in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.00.
ILLEGAL ACTIVITY NOTICE: “Inphi Corporation (IPHI) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS” was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/09/inphi-corporation-iphi-releases-quarterly-earnings-results-beats-expectations-by-0-03-eps.html.
A number of hedge funds and other institutional investors have recently made changes to their positions in IPHI. BlackRock Inc. raised 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 valued at $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 valued at $19,816,000. Garelick Capital Partners LP bought a new position in shares of Inphi Corporation during the first quarter valued at $19,477,000. Clearbridge Investments LLC bought a new position in shares of Inphi Corporation during the first quarter valued at $18,202,000. Finally, Bank of New York Mellon Corp raised 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 valued at $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.
Receive News & Ratings for Inphi Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inphi Corporation and related companies with MarketBeat.com's FREE daily email newsletter.