Inphi (NYSE:IPHI) released its quarterly earnings data on Thursday. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.43, Bloomberg Earnings reports. Inphi had a negative net margin of 26.31% and a negative return on equity of 0.77%. The firm had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.41 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Inphi updated its Q3 2019 guidance to $0.32-0.42 EPS and its Q3 guidance to $0.32-0.42 EPS.
IPHI traded up $3.35 on Friday, hitting $63.59. 2,613,339 shares of the stock were exchanged, compared to its average volume of 1,038,307. Inphi has a 12 month low of $29.56 and a 12 month high of $64.50. The company has a 50-day moving average of $55.12. The company has a quick ratio of 7.64, a current ratio of 8.13 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -111.56 and a beta of 1.55.
In related news, CFO John Edmunds sold 10,141 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $50.00, for a total transaction of $507,050.00. Following the completion of the sale, the chief financial officer now owns 255,283 shares of the company’s stock, valued at $12,764,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ford Tamer sold 37,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $48.31, for a total transaction of $1,787,470.00. Following the sale, the chief executive officer now directly owns 444,397 shares of the company’s stock, valued at approximately $21,468,819.07. The disclosure for this sale can be found here. Insiders have sold 55,141 shares of company stock valued at $2,715,385 in the last ninety days. 3.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zions Bancorporation N.A. lifted its position in Inphi by 6.3% during the second quarter. Zions Bancorporation N.A. now owns 4,297 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 256 shares during the period. Rhumbline Advisers lifted its holdings in shares of Inphi by 1.1% in the first quarter. Rhumbline Advisers now owns 59,247 shares of the semiconductor company’s stock worth $2,591,000 after acquiring an additional 667 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Inphi by 4.1% in the fourth quarter. Legal & General Group Plc now owns 17,742 shares of the semiconductor company’s stock worth $571,000 after acquiring an additional 693 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Inphi in the first quarter worth about $30,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Inphi in the second quarter worth about $40,000.
Several equities analysts recently commented on the stock. Northland Securities set a $30.00 price target on shares of Inphi and gave the company a “sell” rating in a research note on Monday, May 20th. Zacks Investment Research upgraded shares of Inphi from a “sell” rating to a “hold” rating and set a $67.00 price target on the stock in a research note on Friday. Barclays upped their price target on shares of Inphi from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $55.00 price target (up from $46.00) on shares of Inphi in a research note on Wednesday, May 1st. Finally, Bank of America set a $68.00 price target on shares of Inphi and gave the company a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $57.00.
Inphi Corporation provides high-speed analog and mixed signal semiconductor solutions for the communications, datacenter, and computing markets worldwide. Its analog and mixed signal semiconductor solutions offer high signal integrity at various data speeds and reduce system power consumption. The company's semiconductor solutions address bandwidth bottlenecks in networks, maximize throughput and minimize latency in computing environments, and enable the rollout of communications and datacenter infrastructures.
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