New York State Common Retirement Fund boosted its holdings in Inphi Co. (NYSE:IPHI) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,574 shares of the semiconductor company’s stock after acquiring an additional 8,374 shares during the period. New York State Common Retirement Fund owned about 0.13% of Inphi worth $1,643,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Zions Bancorporation bought a new stake in shares of Inphi during the first quarter valued at approximately $130,000. Tower Research Capital LLC TRC raised its holdings in shares of Inphi by 213.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,775 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 3,930 shares during the last quarter. Sciencast Management LP bought a new stake in shares of Inphi during the fourth quarter valued at approximately $292,000. K.J. Harrison & Partners Inc bought a new stake in shares of Inphi during the first quarter valued at approximately $301,000. Finally, Quantum Capital Management raised its holdings in shares of Inphi by 39.3% during the first quarter. Quantum Capital Management now owns 10,262 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 2,897 shares during the last quarter.
NYSE IPHI opened at $31.96 on Thursday. The company has a quick ratio of 8.14, a current ratio of 8.76 and a debt-to-equity ratio of 1.06. Inphi Co. has a 12 month low of $23.65 and a 12 month high of $44.32.
Inphi (NYSE:IPHI) last posted its quarterly earnings results on Tuesday, April 24th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $59.82 million. Inphi had a negative net margin of 27.52% and a negative return on equity of 0.01%. The firm’s quarterly revenue was down 35.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. equities analysts expect that Inphi Co. will post -0.61 earnings per share for the current year.
A number of research firms have recently weighed in on IPHI. Barclays began coverage on Inphi in a report on Wednesday, May 30th. They set an “overweight” rating and a $40.00 price target on the stock. Needham & Company LLC lowered shares of Inphi from a “strong-buy” rating to a “buy” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, April 25th. DA Davidson set a $32.00 price objective on shares of Inphi and gave the company a “hold” rating in a research note on Wednesday, April 25th. Zacks Investment Research upgraded shares of Inphi from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Finally, Northland Securities lowered shares of Inphi from a “market perform” rating to an “under perform” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $39.60.
In other Inphi news, VP Ron Torten sold 4,309 shares of Inphi stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $35.00, for a total value of $150,815.00. Following the transaction, the vice president now owns 76,955 shares in the company, valued at $2,693,425. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Richard Ogawa sold 2,889 shares of Inphi stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $31.25, for a total transaction of $90,281.25. Following the completion of the transaction, the general counsel now owns 53,400 shares in the company, valued at approximately $1,668,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,740 shares of company stock worth $415,829. 3.40% of the stock is currently owned by company insiders.
Inphi Company Profile
Inphi Corporation provides high-speed analog and mixed signal semiconductor solutions for the communications, datacenter, and computing markets worldwide. The company's analog and mixed signal semiconductor solutions offers high signal integrity at data speeds while reducing system power consumption.
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