Zacks Investment Research Lowers Inphi Corp. (IPHI) to Hold
Inphi Corp. (NYSE:IPHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Inphi Corporation operates as a provider of fabless high-speed analog semiconductor solutions for the communications and computing markets. Its solutions provides interface between analog signals and digital information in high-performance systems such as telecommunications transport systems, enterprise networking equipment, datacenter and enterprise servers, storage platforms, test and measurement equipment and military systems. The Company’s products are designed into systems sold by OEMs, including Agilent Technologies, Inc., Alcatel-Lucent, Cisco Systems, Inc., Danaher Corporation, Dell Inc., EMC Corporation, Hewlett-Packard Company, Huawei, International Business Machines Corporation and Oracle Corporation. Inphi Corporation is headquartered in Santa Clara, California “
A number of other research analysts have also issued reports on IPHI. B. Riley restated a “buy” rating and set a $46.00 price objective on shares of Inphi Corp. in a research report on Sunday, August 14th. Roth Capital reaffirmed a “buy” rating on shares of Inphi Corp. in a research note on Tuesday, June 28th. Stifel Nicolaus lifted their target price on Inphi Corp. from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Jefferies Group lifted their target price on Inphi Corp. from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $44.00 target price (up previously from $40.00) on shares of Inphi Corp. in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Inphi Corp. currently has an average rating of “Buy” and an average target price of $38.77.
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Shares of Inphi Corp. (NYSE:IPHI) opened at 41.00 on Wednesday. Inphi Corp. has a one year low of $22.07 and a one year high of $44.82. The stock’s market capitalization is $1.67 billion. The company has a 50-day moving average of $41.95 and a 200 day moving average of $35.38.
Inphi Corp. (NYSE:IPHI) last released its quarterly earnings data on Monday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business earned $60.50 million during the quarter, compared to analyst estimates of $69.34 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts forecast that Inphi Corp. will post $1.35 earnings per share for the current fiscal year.
In other news, CEO Ford Tamer sold 40,000 shares of Inphi Corp. stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $41.02, for a total transaction of $1,640,800.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sam Srinivasan sold 10,000 shares of Inphi Corp. 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. 4.22% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. increased its position in shares of Inphi Corp. by 3,838.8% in the second quarter. 1832 Asset Management L.P. now owns 1,055,600 shares of the company’s stock worth $55,966,000 after buying an additional 1,028,800 shares in the last quarter. Wellington Management Group LLP increased its position 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 worth $52,748,000 after buying an additional 939,018 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Inphi Corp. by 270.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,082,392 shares of the company’s stock worth $34,669,000 after buying an additional 789,962 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Inphi Corp. during the second quarter worth $19,738,000. Finally, Maplelane Capital LLC increased its position in shares of Inphi Corp. by 88.7% in the second quarter. Maplelane Capital LLC now owns 1,152,710 shares of the company’s stock worth $36,921,000 after buying an additional 541,710 shares in the last quarter. Institutional investors and hedge funds own 90.48% 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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