Roth Capital Trims Inphi Corporation (NYSE:IPHI) Target Price to $44.00
Inphi Corporation (NYSE:IPHI) had its target price reduced by equities researchers at Roth Capital from $51.70 to $44.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective suggests a potential upside of 24.19% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Inphi Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Rosenblatt Securities restated a “buy” rating and set a $41.00 price objective on shares of Inphi Corporation in a research report on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and set a $53.00 price objective on shares of Inphi Corporation in a research report on Thursday, July 6th. Deutsche Bank AG decreased their price objective on Inphi Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Finally, BidaskClub upgraded Inphi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $45.73.
Inphi Corporation (IPHI) opened at 35.43 on Tuesday. Inphi Corporation has a one year low of $33.00 and a one year high of $51.78. The company’s 50 day moving average price is $37.19 and its 200-day moving average price is $42.38. The stock has a market capitalization of $1.49 billion, a PE ratio of 17.63 and a beta of 1.15.
Inphi Corporation (NYSE:IPHI) last posted its earnings results on Monday, August 7th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.29. The company had revenue of $84.40 million for the quarter, compared to the consensus estimate of $84 million. Inphi Corporation had a return on equity of 11.23% and a net margin of 28.77%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts expect that Inphi Corporation will post $1.55 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd raised its position in shares of Inphi Corporation by 113.6% in the first quarter. BlueCrest Capital Management Ltd now owns 23,500 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 12,500 shares during the period. Norges Bank purchased a new position in shares of Inphi Corporation during the fourth quarter worth about $13,764,000. SG Americas Securities LLC purchased a new position in shares of Inphi Corporation during the first quarter worth about $433,000. Vanguard Group Inc. raised its position in shares of Inphi Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,970,119 shares of the semiconductor company’s stock worth $145,001,000 after buying an additional 143,904 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Inphi Corporation by 0.5% in the fourth quarter. Teachers Advisors LLC now owns 252,853 shares of the semiconductor company’s stock worth $11,282,000 after buying an additional 1,200 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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