Moody Aldrich Partners LLC boosted its stake in shares of Inphi Corp. (NYSE:IPHI) by 132.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,170 shares of the company’s stock after buying an additional 22,300 shares during the period. Moody Aldrich Partners LLC’s holdings in Inphi Corp. were worth $1,255,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in IPHI. Wellington Management Group LLP increased its stake in Inphi Corp. by 146.0% in the first quarter. Wellington Management Group LLP now owns 1,582,150 shares of the company’s stock worth $52,748,000 after buying an additional 939,018 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Inphi Corp. during the first quarter worth $9,150,000. JPMorgan Chase & Co. increased its stake in Inphi Corp. by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 1,213,968 shares of the company’s stock worth $40,474,000 after buying an additional 83,681 shares during the last quarter. Palisade Capital Management LLC NJ bought a new stake in Inphi Corp. during the first quarter worth $2,521,000. Finally, TIAA CREF Investment Management LLC increased its stake 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 worth $6,489,000 after buying an additional 73,622 shares during the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.
Shares of Inphi Corp. (NYSE:IPHI) traded down 2.97% during midday trading on Friday, hitting $40.86. The stock had a trading volume of 818,024 shares. Inphi Corp. has a 1-year low of $22.07 and a 1-year high of $44.54. The firm’s 50-day moving average price is $41.15 and its 200-day moving average price is $34.01. The stock’s market cap is $1.66 billion.
Inphi Corp. (NYSE:IPHI) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The company earned $60.50 million during 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 firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Analysts forecast that Inphi Corp. will post $1.36 earnings per share for the current year.
IPHI has been the subject of several recent analyst reports. Needham & Company LLC restated a “strong-buy” rating and set a $40.00 price objective on shares of Inphi Corp. in a research report on Wednesday, June 29th. Roth Capital restated a “buy” rating on shares of Inphi Corp. in a research report on Tuesday, June 28th. Jefferies Group restated a “buy” rating and set a $38.00 price objective on shares of Inphi Corp. in a research report on Tuesday, July 5th. Zacks Investment Research downgraded Inphi Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Stifel Nicolaus upped their price objective on Inphi Corp. from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Inphi Corp. currently has an average rating of “Buy” and an average target price of $38.77.
In other Inphi Corp. news, Director Sam Srinivasan sold 10,000 shares of Inphi Corp. stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $41.40, for a total transaction of $414,000.00. Following the completion of the sale, the director now owns 10,537 shares of the company’s stock, valued at $436,231.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ford Tamer sold 40,000 shares of Inphi Corp. stock in a transaction dated Wednesday, August 10th. The stock was 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. Corporate 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.
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