California Public Employees Retirement System raised its stake in Inphi Corp. (NYSE:IPHI) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 79,800 shares of the company’s stock after buying an additional 600 shares during the period. California Public Employees Retirement System owned 0.20% of Inphi Corp. worth $2,556,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Inphi Corp. during the second quarter valued at $178,000. Menta Capital LLC acquired a new position in shares of Inphi Corp. during the first quarter valued at $227,000. Cheyne Capital Management UK LLP acquired a new position in shares of Inphi Corp. during the second quarter valued at $320,000. Quadrature Capital Ltd acquired a new position in shares of Inphi Corp. during the first quarter valued at $395,000. Finally, DIAM Co. Ltd. acquired a new position in shares of Inphi Corp. during the second quarter valued at $442,000. Hedge funds and other institutional investors own 90.48% of the company’s stock.
Inphi Corp. (NYSE:IPHI) traded up 1.45% during trading on Friday, reaching $43.51. The company had a trading volume of 831,320 shares. Inphi Corp. has a 1-year low of $22.07 and a 1-year high of $44.54. The firm has a 50-day moving average of $41.78 and a 200-day moving average of $34.66. The stock’s market capitalization is $1.77 billion.
Inphi Corp. (NYSE:IPHI) last posted its earnings results on Monday, August 8th. The company reported $0.32 EPS for the quarter, topping 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 had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $69.34 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, analysts anticipate that Inphi Corp. will post $1.35 EPS for the current fiscal year.
Several analysts have weighed in on the company. Needham & Company LLC reiterated a “strong-buy” rating and set a $40.00 price target on shares of Inphi Corp. in a research note on Wednesday, June 29th. B. Riley reiterated a “buy” rating and set a $46.00 price target on shares of Inphi Corp. in a research note on Tuesday, August 9th. Northland Securities downgraded Inphi Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Jefferies Group reiterated a “buy” rating on shares of Inphi Corp. in a research note on Thursday, September 8th. Finally, Zacks Investment Research downgraded Inphi Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.77.
In related news, Director Sam Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $41.40, for a total transaction of $414,000.00. Following the transaction, the director now owns 10,537 shares of the company’s stock, valued at $436,231.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ron Torten sold 1,111 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $42.25, for a total value of $46,939.75. Following the transaction, the vice president now directly owns 61,000 shares in the company, valued at approximately $2,577,250. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.
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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