Needham & Company Increases Inphi Corp. Price Target to $16.00 (IPHI)
Investment analysts at Needham & Company raised their target price on shares of Inphi Corp. (NASDAQ:IPHI) from $14.00 to $16.00 in a note issued to investors on Wednesday, ARN reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target indicates a potential upside of 11.89% from the company’s current price.
Inphi Corp. (NASDAQ:IPHI) traded down 2.99% on Wednesday, hitting $14.30. 188,669 shares of the company’s stock traded hands. Inphi Corp. has a 1-year low of $7.45 and a 1-year high of $14.88. The stock has a 50-day moving average of $13.35 and a 200-day moving average of $11.65. The company’s market cap is $420.9 million.
Inphi Corp. (NASDAQ:IPHI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.12. The company had revenue of $26.60 million for the quarter, compared to the consensus estimate of $26.40 million. During the same quarter last year, the company posted $0.05 earnings per share. Inphi Corp.’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Inphi Corp. will post $0.10 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray Cos. reiterated a “buy” rating on shares of Inphi Corp. in a research note to investors on Wednesday. They now have a $14.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Inphi Corp. from $10.00 to $11.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at Craig Hallum initiated coverage on shares of Inphi Corp. in a research note to investors on Monday, September 16th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.70.
In other Inphi Corp. news, Director Diosdado P. Banatao sold 44,738 shares of the company’s stock on the open market in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $14.32, for a total value of $640,648.16. The sale was disclosed in a filing with the SEC, which is available at this link.
Inphi Corporation (NASDAQ:IPHI) is a provider of high-speed analog semiconductor solutions for the communications and computing markets.
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