Needham & Company LLC Reaffirms “Buy” Rating for Inphi (IPHI)

Needham & Company LLC reiterated their buy rating on shares of Inphi (NYSE:IPHI) in a research note published on Friday. Needham & Company LLC currently has a $40.00 price objective on the semiconductor company’s stock.

“IPHI reported 3Q18 revenue and NG EPS slightly above the midpoint of guidance. Revenues grew 12% Q/Q in 3Q18 due to strength in Data Center products with the ramp of PAM-4 products and strength in ColorZ demand following a soft 2Q18. Inphi remains on track to begin shipping its Porrima 100G single-lambda PAM solution in 4Q18 given the pull-in of 200G/400G deployments with hyperscale operators. The LH/metro market was stable in 3Q18 and is expected to grow Q/Q in 4Q18. With the ramp of IPHI’s intra-datacenter PAM-4 solutions further diversifying the company’s customer base and end market exposure and the LH/metro business returning to Q/Q growth, we reiterate our Buy and $40 PT .”,” the firm’s analyst wrote.

Other research analysts have also recently issued reports about the stock. B. Riley cut shares of Inphi from a buy rating to a neutral rating and decreased their price objective for the company from $37.00 to $36.00 in a research note on Thursday, July 19th. Zacks Investment Research cut shares of Inphi from a hold rating to a sell rating in a research note on Tuesday, October 23rd. Northland Securities set a $27.00 price objective on shares of Inphi and gave the company a sell rating in a research note on Wednesday, July 25th. Loop Capital began coverage on shares of Inphi in a research note on Wednesday, July 25th. They issued a buy rating and a $43.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of Inphi from $40.00 to $38.00 and set an overweight rating on the stock in a research note on Tuesday, October 23rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Inphi has an average rating of Hold and a consensus target price of $37.29.

Shares of NYSE:IPHI opened at $35.54 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of 61.28 and a beta of 1.25. The company has a current ratio of 7.42, a quick ratio of 6.90 and a debt-to-equity ratio of 1.14. Inphi has a 1 year low of $23.65 and a 1 year high of $44.32.

Inphi (NYSE:IPHI) last announced its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $77.93 million. Inphi had a negative net margin of 25.21% and a negative return on equity of 5.20%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. As a group, equities analysts predict that Inphi will post -0.64 EPS for the current fiscal year.

In other Inphi news, VP Ron Torten sold 12,342 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $35.00, for a total transaction of $431,970.00. Following the sale, the vice president now owns 64,386 shares of the company’s stock, valued at $2,253,510. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 12,694 shares of company stock worth $444,709. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Inphi by 11.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 834,292 shares of the semiconductor company’s stock worth $27,206,000 after purchasing an additional 82,961 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Inphi by 40.1% in the second quarter. Janus Henderson Group PLC now owns 581,966 shares of the semiconductor company’s stock worth $18,978,000 after purchasing an additional 166,615 shares during the last quarter. Northern Trust Corp grew its stake in shares of Inphi by 5.5% in the second quarter. Northern Trust Corp now owns 532,633 shares of the semiconductor company’s stock worth $17,369,000 after purchasing an additional 27,929 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Inphi by 6.2% in the second quarter. Frontier Capital Management Co. LLC now owns 462,114 shares of the semiconductor company’s stock worth $15,070,000 after purchasing an additional 27,037 shares during the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of Inphi by 14.9% in the second quarter. Wasatch Advisors Inc. now owns 346,300 shares of the semiconductor company’s stock worth $11,293,000 after purchasing an additional 44,873 shares during the last quarter.

Inphi Company Profile

Inphi Corp. engages in the provision of analog and mixed signal semiconductor solutions for the communications and computing markets. It offers analog and mixed signal semiconductor solutions; and semiconductor solutions. Analog and mixed signal semiconductor solutions offers high signal integrity at data speeds while reducing system power consumption.

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Analyst Recommendations for Inphi (NYSE:IPHI)

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