Tower Research Capital LLC TRC bought a new stake in Inphi Corp. (NYSE:IPHI) during the second quarter, Holdings Channel reports. The institutional investor bought 3,502 shares of the company’s stock, valued at approximately $112,000.
Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in Inphi Corp. by 37.2% in the second quarter. Teacher Retirement System of Texas now owns 4,964 shares of the company’s stock worth $159,000 after buying an additional 1,347 shares during the period. Bank of Montreal Can bought a new stake in Inphi Corp. during the second quarter worth about $178,000. Menta Capital LLC bought a new stake in Inphi Corp. during the first quarter worth about $227,000. Thompson Davis & CO. Inc. raised its stake in Inphi Corp. by 13.2% in the second quarter. Thompson Davis & CO. Inc. now owns 7,500 shares of the company’s stock worth $240,000 after buying an additional 875 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Inphi Corp. during the second quarter worth about $317,000. Hedge funds and other institutional investors own 90.48% of the company’s stock.
Shares of Inphi Corp. (NYSE:IPHI) opened at 40.32 on Friday. Inphi Corp. has a one year low of $22.07 and a one year high of $44.82. The company’s market cap is $1.64 billion. The company has a 50 day moving average price of $41.79 and a 200 day moving average price of $35.45.
Inphi Corp. (NYSE:IPHI) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $60.50 million for the quarter, compared to the consensus estimate of $69.34 million. Inphi Corp. had a positive return on equity of 7.29% and a negative net margin of 1.16%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts expect that Inphi Corp. will post $1.35 earnings per share for the current year.
IPHI has been the subject of a number of recent research reports. Jefferies Group reiterated a “buy” rating on shares of Inphi Corp. in a research note on Thursday, September 8th. JPMorgan Chase & Co. initiated coverage on Inphi Corp. in a research note on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 target price for the company. Northland Securities lowered Inphi Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Deutsche Bank AG reiterated a “buy” rating and issued a $40.00 target price on shares of Inphi Corp. in a research note on Tuesday, August 9th. Finally, Needham & Company LLC increased their target price on Inphi Corp. from $44.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.03.
In other Inphi Corp. news, CEO Ford Tamer sold 40,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $41.02, for a total transaction of $1,640,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ron Torten sold 1,111 shares of the 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 owns 61,000 shares of the company’s stock, valued at approximately $2,577,250. The disclosure for this sale can be found here. 4.22% of the stock is 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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