DA Davidson Increases Inphi (NYSE:IPHI) Price Target to $84.00

Inphi (NYSE:IPHI) had its price objective raised by investment analysts at DA Davidson to $84.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price objective would indicate a potential upside of 12.77% from the company’s previous close.

Several other equities analysts have also issued reports on IPHI. Craig Hallum upped their target price on Inphi from $62.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America increased their price objective on Inphi from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, September 20th. Deutsche Bank increased their price objective on Inphi from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. B. Riley raised their price target on Inphi from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on Inphi from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.29.

IPHI traded up $0.76 during midday trading on Tuesday, reaching $74.49. 415,433 shares of the company were exchanged, compared to its average volume of 1,078,114. The company has a debt-to-equity ratio of 1.35, a quick ratio of 6.83 and a current ratio of 7.62. The company’s fifty day moving average price is $63.74 and its 200 day moving average price is $56.82. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -130.68 and a beta of 1.59. Inphi has a one year low of $29.56 and a one year high of $74.99.

Inphi (NYSE:IPHI) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $94.23 million during the quarter, compared to analyst estimates of $90.09 million. Inphi had a positive return on equity of 0.46% and a negative net margin of 23.23%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts anticipate that Inphi will post -0.04 earnings per share for the current fiscal year.

In other news, VP Charles Roach sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $63.60, for a total transaction of $127,200.00. Following the transaction, the vice president now directly owns 107,206 shares of the company’s stock, valued at $6,818,301.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IPHI. Marshall Wace LLP purchased a new stake in Inphi in the first quarter worth about $70,000. Marshall Wace North America L.P. purchased a new stake in Inphi in the first quarter worth about $30,000. First Trust Advisors LP lifted its holdings in Inphi by 26.4% in the first quarter. First Trust Advisors LP now owns 46,998 shares of the semiconductor company’s stock worth $2,056,000 after buying an additional 9,812 shares during the period. Cortina Asset Management LLC lifted its holdings in Inphi by 2.0% in the second quarter. Cortina Asset Management LLC now owns 162,957 shares of the semiconductor company’s stock worth $8,164,000 after buying an additional 3,193 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in Inphi by 6.3% in the second 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 period.

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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