Cowen Boosts Inphi (NYSE:IPHI) Price Target to $69.00

Inphi (NYSE:IPHI) had its price target hoisted by Cowen from $53.00 to $69.00 in a research report report published on Friday, The Fly reports. Cowen currently has an outperform rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on IPHI. Northland Securities set a $30.00 price target on Inphi and gave the company a sell rating in a research report on Monday, May 20th. Craig Hallum set a $62.00 price target on Inphi and gave the company a buy rating in a research report on Monday, July 8th. They noted that the move was a valuation call. Needham & Company LLC raised their price target on Inphi from $40.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Barclays raised their price target on Inphi from $50.00 to $65.00 and gave the company an overweight rating in a research report on Thursday, July 18th. Finally, Bank of America set a $68.00 price target on Inphi and gave the company a buy rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Inphi has a consensus rating of Buy and a consensus price target of $57.00.

Inphi stock traded down $1.74 during midday trading on Friday, reaching $61.85. The company’s stock had a trading volume of 34,601 shares, compared to its average volume of 1,038,307. Inphi has a fifty-two week low of $29.56 and a fifty-two week high of $64.50. 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 company’s 50 day simple moving average is $55.12. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -108.84 and a beta of 1.55.

Inphi (NYSE:IPHI) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.43. Inphi had a negative return on equity of 0.77% and a negative net margin of 26.31%. The company had revenue of $86.30 million during the quarter, compared to the consensus estimate of $84.41 million. During the same quarter last year, the company earned $0.15 earnings per share. Inphi’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, equities analysts predict that Inphi will post -0.11 EPS for the current year.

In related news, CEO Ford Tamer sold 37,000 shares of Inphi 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 completion of the sale, the chief executive officer now owns 444,397 shares in the company, valued at approximately $21,468,819.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John Edmunds sold 10,141 shares of Inphi stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $50.00, for a total value of $507,050.00. Following the sale, the chief financial officer now owns 255,283 shares of the company’s stock, valued at approximately $12,764,150. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,141 shares of company stock valued at $2,715,385. Company insiders own 3.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Inphi by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 455,751 shares of the semiconductor company’s stock worth $14,652,000 after acquiring an additional 25,224 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Inphi by 8.4% in the 4th quarter. Two Sigma Advisers LP now owns 19,198 shares of the semiconductor company’s stock worth $617,000 after acquiring an additional 1,485 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Inphi by 378.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,117 shares of the semiconductor company’s stock worth $454,000 after acquiring an additional 11,164 shares in the last quarter. Jane Street Group LLC purchased a new stake in Inphi in the 4th quarter worth $389,000. Finally, Legal & General Group Plc increased its holdings in Inphi by 4.1% in the 4th 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 in the last quarter.

Inphi Company Profile

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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