Insight Capital Research & Management Inc. purchased a new position in Inphi Corp. (NYSE:IPHI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 91,400 shares of the company’s stock, valued at approximately $2,928,000.
A number of other institutional investors have also modified their holdings of the company. Commonwealth Equity Services Inc increased its position in Inphi Corp. by 3.4% in the first quarter. Commonwealth Equity Services Inc now owns 30,475 shares of the company’s stock valued at $1,016,000 after buying an additional 1,000 shares during the period. Virginia Retirement System purchased a new position in Inphi Corp. during the first quarter valued at $1,340,000. TIAA CREF Investment Management LLC increased its position in Inphi Corp. by 60.8% in the first quarter. TIAA CREF Investment Management LLC now owns 194,626 shares of the company’s stock valued at $6,489,000 after buying an additional 73,622 shares during the period. JPMorgan Chase & Co. increased its position in Inphi Corp. by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,968 shares of the company’s stock valued at $40,474,000 after buying an additional 83,681 shares during the period. Finally, Palisade Capital Management LLC NJ purchased a new position in Inphi Corp. during the first quarter valued at $2,521,000. Institutional investors own 90.48% of the company’s stock.
Shares of Inphi Corp. (NYSE:IPHI) traded up 0.09% during midday trading on Monday, hitting $43.55. The stock had a trading volume of 391,692 shares. The stock has a 50-day moving average price of $41.78 and a 200-day moving average price of $34.66. Inphi Corp. has a 12-month low of $22.07 and a 12-month high of $44.54. The stock’s market cap is $1.77 billion.
Inphi Corp. (NYSE:IPHI) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The business had revenue of $60.50 million for the quarter, compared to analyst estimates of $69.34 million. Inphi Corp. had a positive return on equity of 7.29% and a negative net margin of 1.16%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS. Equities analysts forecast that Inphi Corp. will post $1.35 earnings per share for the current year.
Several research firms have recently weighed in on IPHI. Zacks Investment Research upgraded Inphi Corp. from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research report on Tuesday, August 9th. JPMorgan Chase & Co. began coverage on Inphi Corp. in a research report on Tuesday, August 30th. They issued an “overweight” rating and a $55.00 target price on the stock. Northland Securities downgraded Inphi Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. B. Riley restated a “buy” rating and issued a $46.00 target price on shares of Inphi Corp. in a research report on Sunday, August 14th. Finally, Jefferies Group restated a “buy” rating on shares of Inphi Corp. in a research report on Thursday, September 8th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.77.
In related news, Director Sam Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $41.40, for a total value of $414,000.00. Following the sale, the director now owns 10,537 shares of the company’s stock, valued at approximately $436,231.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ford Tamer sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $41.02, for a total value of $1,640,800.00. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.
Inphi Corp. Company Profile
Inphi Corporation is a provider of analog and mixed signal semiconductor solutions for the communications, datacenter and computing markets. The Company’s solutions provide an interface between analog signals and digital information in systems, such as telecommunications transport systems, enterprise networking equipment, datacenters and enterprise servers, test and measurement equipment and military systems.
Want to see what other hedge funds are holding IPHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inphi Corp. (NYSE:IPHI).
Receive News & Ratings for Inphi Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inphi Corp. and related companies with MarketBeat.com's FREE daily email newsletter.