B. Riley Raises Inphi (NYSE:IPHI) Price Target to $51.00

Inphi (NYSE:IPHI) had its price target upped by research analysts at B. Riley from $45.00 to $51.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. B. Riley’s price objective would suggest a potential downside of 20.01% from the stock’s current price.

Several other research firms have also commented on IPHI. Bank of America set a $68.00 price target on shares of Inphi and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley lifted their target price on shares of Inphi from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays boosted their price objective on shares of Inphi from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Craig Hallum reiterated a “buy” rating and issued a $70.00 target price (up from $62.00) on shares of Inphi in a research note on Friday. Finally, Needham & Company LLC boosted their price objective on shares of Inphi from $40.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.31.

Shares of NYSE IPHI traded up $3.52 during midday trading on Friday, hitting $63.76. The company’s stock had a trading volume of 1,773,465 shares, compared to its average volume of 931,386. Inphi has a 1-year low of $29.56 and a 1-year high of $63.18. The business has a fifty day simple moving average of $54.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 7.64 and a current ratio of 8.13. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -111.86 and a beta of 1.53.

Inphi (NYSE:IPHI) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.43. Inphi had a negative net margin of 30.17% and a negative return on equity of 3.13%. The business had revenue of $86.30 million during the quarter, compared to analyst estimates of $84.41 million. During the same period in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. On average, equities research analysts forecast that Inphi will post -0.11 EPS for the current year.

In other Inphi 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 value of $1,787,470.00. Following the transaction, the chief executive officer now owns 444,397 shares in the company, valued at $21,468,819.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Charles Roach sold 2,000 shares of Inphi stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $62.16, for a total value of $124,320.00. Following the completion of the transaction, the vice president now owns 111,996 shares in the company, valued at approximately $6,961,671.36. 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 three months. Insiders own 3.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Scout Investments Inc. grew its position in Inphi by 65.8% in the second quarter. Scout Investments Inc. now owns 116,105 shares of the semiconductor company’s stock valued at $5,817,000 after acquiring an additional 46,080 shares during the last quarter. Zions Bancorporation N.A. grew its position in Inphi by 6.3% in the second quarter. Zions Bancorporation N.A. now owns 4,297 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 256 shares during the last quarter. Jane Street Group LLC bought a new position in Inphi in the fourth quarter valued at about $389,000. Jennison Associates LLC grew its position in Inphi by 265.8% in the first quarter. Jennison Associates LLC now owns 515,422 shares of the semiconductor company’s stock valued at $22,545,000 after acquiring an additional 374,522 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Inphi by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 455,751 shares of the semiconductor company’s stock valued at $14,652,000 after acquiring an additional 25,224 shares during 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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