Barclays Raises Inphi (NYSE:IPHI) Price Target to $65.00

Inphi (NYSE:IPHI) had its target price lifted by Barclays from $50.00 to $65.00 in a report issued on Thursday morning, The Fly reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

IPHI has been the topic of several other research reports. Northland Securities set a $68.00 price target on Lumentum and gave the company a buy rating in a report on Monday, May 20th. Needham & Company LLC reiterated a buy rating and set a $10.00 price objective (down from $15.00) on shares of Nabriva Therapeutics in a research report on Wednesday, May 1st. DA Davidson reduced their price objective on Inphi to $52.00 and set a buy rating on the stock in a research report on Tuesday, May 21st. Bank of America set a $68.00 price objective on Inphi and gave the company a buy rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an overweight rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $50.88.

Shares of IPHI opened at $59.82 on Thursday. The business’s 50-day moving average is $50.49. The stock has a market cap of $2.71 billion, a PE ratio of -104.95 and a beta of 1.53. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.13 and a quick ratio of 7.64. Inphi has a 52-week low of $29.56 and a 52-week high of $61.09.

Inphi (NYSE:IPHI) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $82.20 million for the quarter, compared to analysts’ expectations of $80.97 million. Inphi had a negative return on equity of 3.13% and a negative net margin of 30.17%. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, research analysts predict that Inphi will post -0.12 earnings per share for the current year.

In related news, CFO John Edmunds sold 10,141 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $50.00, for a total transaction of $507,050.00. Following the transaction, the chief financial officer now directly owns 255,283 shares in the company, valued at approximately $12,764,150. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Richard Ogawa sold 8,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $46.95, for a total value of $382,642.50. Following the transaction, the general counsel now owns 40,653 shares in the company, valued at $1,908,658.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,520 shares of company stock worth $3,286,527. 3.30% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Zions Bancorporation N.A. grew its position in shares of Inphi by 6.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 4,297 shares of the semiconductor company’s stock worth $215,000 after buying an additional 256 shares during the last quarter. Rhumbline Advisers grew its position in shares of Inphi by 1.1% in the 1st quarter. Rhumbline Advisers now owns 59,247 shares of the semiconductor company’s stock worth $2,591,000 after buying an additional 667 shares during the last quarter. Legal & General Group Plc grew its position in shares of Inphi by 4.1% in the 4th quarter. Legal & General Group Plc now owns 17,742 shares of the semiconductor company’s stock worth $571,000 after buying an additional 693 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Inphi in the 1st quarter worth approximately $30,000. Finally, Gagnon Securities LLC grew its position in shares of Inphi by 6.2% in the 1st quarter. Gagnon Securities LLC now owns 16,012 shares of the semiconductor company’s stock worth $700,000 after buying an additional 941 shares during the last quarter.

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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