Inphi (NYSE:IPHI) Given New $80.00 Price Target at Bank of America

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Inphi (NYSE:IPHI) had its target price increased by Bank of America from $75.00 to $80.00 in a research report report published on Friday, September 20th, The Fly reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Inphi from a buy rating to a hold rating in a report on Saturday, August 10th. Cowen increased their price target on Inphi from $53.00 to $69.00 and gave the company an outperform rating in a report on Friday, August 2nd. B. Riley increased their price target on Inphi from $45.00 to $51.00 and gave the company a neutral rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on Inphi from $45.00 to $60.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. Finally, Barclays raised their target price on Inphi from $50.00 to $65.00 and gave the stock an overweight rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $58.23.

Shares of IPHI traded up $1.72 during mid-day trading on Friday, reaching $63.67. The company had a trading volume of 801,077 shares, compared to its average volume of 831,163. The stock has a market capitalization of $2.89 billion, a P/E ratio of -111.70 and a beta of 1.57. The stock has a 50 day moving average of $61.75 and a two-hundred day moving average of $53.84. The company has a quick ratio of 7.06, a current ratio of 7.69 and a debt-to-equity ratio of 1.34. Inphi has a 52-week low of $29.56 and a 52-week high of $66.56.

Inphi (NYSE:IPHI) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.43. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $84.41 million. Inphi had a negative return on equity of 0.78% and a negative net margin of 26.31%. Inphi’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts expect that Inphi will post -0.11 earnings per share for the current year.

In other news, CEO Ford Tamer sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $63.44, for a total transaction of $2,347,280.00. Following the sale, the chief executive officer now owns 402,560 shares of the company’s stock, valued at approximately $25,538,406.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles Roach sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $60.61, for a total value of $121,220.00. Following the completion of the sale, the vice president now directly owns 113,996 shares in the company, valued at approximately $6,909,297.56. The disclosure for this sale can be found here. Insiders sold a total of 47,000 shares of company stock worth $2,970,580 in the last 90 days. 3.30% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of IPHI. Marshall Wace North America L.P. purchased a new position in shares of Inphi during the 1st quarter worth $30,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Inphi by 56.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 727 shares of the semiconductor company’s stock worth $36,000 after buying an additional 262 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Inphi during the 2nd quarter worth $40,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Inphi during the 1st quarter worth $65,000. Finally, Strs Ohio acquired a new stake in shares of Inphi during the 2nd quarter worth $70,000.

About Inphi

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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