Gagnon Securities LLC reduced its stake in Inphi Co. (NYSE:IPHI) by 18.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,021 shares of the semiconductor company’s stock after selling 2,991 shares during the period. Gagnon Securities LLC’s holdings in Inphi were worth $652,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Inphi during the second quarter worth about $3,537,000. Renaissance Technologies LLC acquired a new stake in shares of Inphi during the 2nd quarter worth about $3,858,000. Quantamental Technologies LLC acquired a new stake in shares of Inphi during the 2nd quarter worth about $546,000. Charles Schwab Investment Management Inc. increased its position in shares of Inphi by 25.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 314,452 shares of the semiconductor company’s stock worth $15,755,000 after purchasing an additional 64,425 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Inphi in the 2nd quarter valued at about $686,000.
Inphi stock traded up $0.87 during midday trading on Friday, reaching $62.86. 5,459 shares of the stock traded hands, compared to its average volume of 831,707. The company has a current ratio of 7.69, a quick ratio of 7.06 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average price of $62.63 and a two-hundred day moving average price of $51.18. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -109.10 and a beta of 1.59. Inphi Co. has a fifty-two week low of $29.56 and a fifty-two week high of $66.56.
Inphi (NYSE:IPHI) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.43. The business had revenue of $86.30 million during the quarter, compared to the consensus estimate of $84.41 million. Inphi had a negative net margin of 26.31% and a negative return on equity of 0.78%. Inphi’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. Analysts anticipate that Inphi Co. will post -0.11 earnings per share for the current year.
In other news, CFO John Edmunds sold 10,141 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 255,283 shares of the company’s stock, valued at approximately $12,764,150. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Charles Roach sold 2,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $63.60, for a total value of $127,200.00. Following the completion of the transaction, the vice president now directly owns 107,206 shares of the company’s stock, valued at approximately $6,818,301.60. The disclosure for this sale can be found here. Insiders sold 57,141 shares of company stock worth $3,477,630 over the last three months. Corporate insiders own 3.30% of the company’s stock.
IPHI has been the topic of several recent research reports. Bank of America set a $68.00 target price on shares of Inphi and gave the company a “buy” rating in a research note on Monday, July 15th. B. Riley lifted their price objective on Inphi from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Zacks Investment Research cut Inphi from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays lifted 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, Cowen boosted their target price on Inphi from $53.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. 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 given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $57.00.
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.
Featured Story: What is the NASDAQ Stock Market?
Receive News & Ratings for Inphi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inphi and related companies with MarketBeat.com's FREE daily email newsletter.