Inphi (NYSE:IPHI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Inphi (NYSE:IPHI) from a buy rating to a hold rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “Inphi Corporation operates as a provider of fabless high-speed analog semiconductor solutions for the communications and computing markets. Its solutions provides interface between analog signals and digital information in high-performance systems such as telecommunications transport systems, enterprise networking equipment, datacenter and enterprise servers, storage platforms, test and measurement equipment and military systems. The Company’s products are designed into systems sold by OEMs, including Agilent Technologies, Inc., Alcatel-Lucent, Cisco Systems, Inc., Danaher Corporation, Dell Inc., EMC Corporation, Hewlett-Packard Company, Huawei, International Business Machines Corporation and Oracle Corporation. Inphi Corporation is headquartered in Santa Clara, California “

IPHI has been the subject of a number of other research reports. B. Riley lifted their target price on shares of Inphi from $45.00 to $51.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. DA Davidson lowered their target price on shares of Inphi to $52.00 and set a buy rating for the company in a research note on Tuesday, May 21st. Needham & Company LLC lifted their target price on shares of Inphi from $40.00 to $54.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Barclays lifted their target price on shares of Inphi from $50.00 to $65.00 and gave the stock an overweight rating in a research note on Thursday, July 18th. Finally, Craig Hallum lifted their target price on shares of Inphi from $62.00 to $70.00 and gave the stock a buy rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $57.00.

NYSE IPHI traded down $0.88 during mid-day trading on Friday, reaching $64.59. 748,319 shares of the stock were exchanged, compared to its average volume of 1,105,570. Inphi has a one year low of $29.56 and a one year high of $66.56. The company has a 50 day moving average of $57.46. The stock has a market cap of $2.97 billion, a PE ratio of -113.32 and a beta of 1.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 7.64 and a current ratio of 7.69.

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

In other Inphi news, Director William J. Ruehle sold 2,500 shares of Inphi stock in a transaction on Friday, May 24th. The shares were sold at an average price of $43.34, for a total value of $108,350.00. Following the completion of the sale, the director now directly owns 6,311 shares of the company’s stock, valued at $273,518.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ford Tamer sold 37,000 shares of Inphi stock in a transaction on Monday, May 13th. The shares were sold at an average price of $48.31, for a total transaction of $1,787,470.00. Following the completion of the sale, the chief executive officer now directly owns 444,397 shares of the company’s stock, valued at $21,468,819.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,141 shares of company stock valued at $2,836,345. Insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Scout Investments Inc. grew its holdings in shares of Inphi by 65.8% during the second quarter. Scout Investments Inc. now owns 116,105 shares of the semiconductor company’s stock valued at $5,817,000 after buying an additional 46,080 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in shares of Inphi by 6.3% during the second quarter. Zions Bancorporation N.A. now owns 4,297 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 256 shares during the last quarter. Jane Street Group LLC purchased a new position in Inphi during the fourth quarter worth about $389,000. Geode Capital Management LLC boosted its holdings in Inphi by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 455,751 shares of the semiconductor company’s stock worth $14,652,000 after purchasing an additional 25,224 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Inphi by 265.8% during the first quarter. Jennison Associates LLC now owns 515,422 shares of the semiconductor company’s stock worth $22,545,000 after purchasing an additional 374,522 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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