Ameriprise Financial Inc. increased its position in Inphi Corp. (NYSE:IPHI) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,801 shares of the company’s stock after buying an additional 7,546 shares during the period. Ameriprise Financial Inc. owned approximately 0.31% of Inphi Corp. worth $3,966,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised 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 valued at $52,748,000 after buying an additional 939,018 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in Inphi Corp. during the second quarter worth approximately $19,738,000. Columbus Circle Investors raised its position in Inphi Corp. by 79.5% in the second quarter. Columbus Circle Investors now owns 548,654 shares of the company’s stock worth $17,573,000 after buying an additional 242,967 shares in the last quarter. Insight Capital Research & Management Inc. purchased a new position in Inphi Corp. during the second quarter worth approximately $2,928,000. Finally, JPMorgan Chase & Co. raised its position in Inphi Corp. by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,968 shares of the company’s stock worth $40,474,000 after buying an additional 83,681 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.
Inphi Corp. (NYSE:IPHI) traded down 2.03% on Wednesday, hitting $38.52. The company had a trading volume of 66,752 shares. The firm’s market capitalization is $1.57 billion. Inphi Corp. has a 12-month low of $22.07 and a 12-month high of $44.82. The firm has a 50-day moving average price of $41.52 and a 200-day moving average price of $35.58.
Inphi Corp. (NYSE:IPHI) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $69.34 million. Inphi Corp. had a positive return on equity of 7.29% and a negative net margin of 1.16%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, equities research analysts anticipate that Inphi Corp. will post $1.35 earnings per share for the current fiscal year.
IPHI has been the topic of a number of recent analyst reports. Jefferies Group reissued a “buy” rating on shares of Inphi Corp. in a research report on Thursday, September 8th. JPMorgan Chase & Co. initiated coverage on shares of Inphi Corp. in a research report on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 price target on the stock. Northland Securities lowered shares of Inphi Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. Deutsche Bank AG reissued a “buy” rating and issued a $40.00 price target on shares of Inphi Corp. in a research report on Tuesday, August 9th. Finally, Cowen and Company assumed coverage on shares of Inphi Corp. in a research note on Friday, October 14th. They issued a “market perform” rating and a $39.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Inphi Corp. has a consensus rating of “Buy” and an average target price of $39.03.
In other news, VP Ron Torten sold 1,111 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $42.25, for a total transaction of $46,939.75. Following the sale, the vice president now directly owns 61,000 shares of the company’s stock, valued at approximately $2,577,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ford Tamer sold 40,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $41.02, for a total value of $1,640,800.00. The disclosure for this sale can be found here. Company insiders own 4.22% 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.
Want to see what other hedge funds are holding IPHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inphi Corp. (NYSE:IPHI).
Receive News & Ratings for Inphi Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inphi Corp. and related companies with MarketBeat.com's FREE daily email newsletter.