Cheyne Capital Management UK LLP acquired a new stake in Inphi Corp. (NYSE:IPHI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $320,000. Inphi Corp. makes up approximately 0.3% of Cheyne Capital Management UK LLP’s portfolio, making the stock its 21st largest position.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Fund Management S.A. purchased a new stake in shares of Inphi Corp. during the second quarter valued at $1,377,000. American Century Companies Inc. purchased a new stake in shares of Inphi Corp. during the second quarter valued at $2,577,000. Moody Aldrich Partners LLC increased its stake in shares of Inphi Corp. by 132.2% in the second quarter. Moody Aldrich Partners LLC now owns 39,170 shares of the company’s stock valued at $1,255,000 after buying an additional 22,300 shares during the last quarter. RS Investment Management Co. LLC increased its stake in shares of Inphi Corp. by 13.4% in the second quarter. RS Investment Management Co. LLC now owns 77,170 shares of the company’s stock valued at $2,472,000 after buying an additional 9,090 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Inphi Corp. during the second quarter valued at $178,000. 90.48% of the stock is currently owned by institutional investors.
Inphi Corp. (NYSE:IPHI) traded up 1.45% during trading on Friday, hitting $43.51. 831,320 shares of the stock were exchanged. The firm’s market cap is $1.77 billion. The stock’s 50-day moving average price is $41.73 and its 200-day moving average price is $34.55. Inphi Corp. has a 12-month low of $22.07 and a 12-month high of $44.54.
Inphi Corp. (NYSE:IPHI) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business earned $60.50 million during the quarter, compared to analyst estimates of $69.34 million. Inphi Corp. had a negative net margin of 1.16% and a positive return on equity of 7.29%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts expect that Inphi Corp. will post $1.35 EPS for the current year.
Several analysts have recently weighed in on IPHI shares. JPMorgan Chase & Co. started coverage on shares of Inphi Corp. in a report on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 target price on the stock. Roth Capital reiterated a “buy” rating on shares of Inphi Corp. in a research note on Tuesday, June 28th. Zacks Investment Research upgraded shares of Inphi Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. Jefferies Group reiterated a “buy” rating on shares of Inphi Corp. in a research note on Thursday, September 8th. Finally, Stifel Nicolaus raised their price objective on shares of Inphi Corp. from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.77.
In other news, VP Ron Torten sold 1,111 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $42.25, for a total value of $46,939.75. Following the completion of the sale, the vice president now directly owns 61,000 shares of the company’s stock, valued at $2,577,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sam Srinivasan sold 10,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $41.40, for a total transaction of $414,000.00. Following the completion of the sale, the director now directly owns 10,537 shares of the company’s stock, valued at $436,231.80. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by insiders.
Inphi Corp. Company Profile
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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