Craig Hallum Raises Inphi (NYSE:IPHI) Price Target to $90.00

Inphi (NYSE:IPHI) had its price target lifted by Craig Hallum from $75.00 to $90.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on the stock. Barclays raised their price target on shares of Inphi from $50.00 to $65.00 and gave the stock an overweight rating in a report on Thursday, July 18th. ValuEngine cut Inphi from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Deutsche Bank boosted their price objective on Inphi from $68.00 to $70.00 and gave the stock a buy rating in a report on Wednesday, October 30th. DA Davidson upped their target price on Inphi from $70.00 to $84.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $85.00 target price (up previously from $72.00) on shares of Inphi in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $71.93.

Shares of IPHI traded down $0.67 during trading hours on Tuesday, hitting $73.70. The company had a trading volume of 508,905 shares, compared to its average volume of 1,101,509. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -129.30 and a beta of 1.59. The business has a fifty day moving average of $64.81 and a 200-day moving average of $57.38. Inphi has a 12 month low of $29.56 and a 12 month high of $77.67. The company has a quick ratio of 6.83, a current ratio of 7.62 and a debt-to-equity ratio of 1.35.

Inphi (NYSE:IPHI) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The company had revenue of $94.23 million for the quarter, compared to analyst estimates of $90.09 million. Inphi had a negative net margin of 23.23% and a positive return on equity of 0.46%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, equities analysts expect that Inphi will post -0.03 EPS for the current fiscal year.

In other Inphi news, CEO Ford Tamer sold 37,000 shares of Inphi stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.70, for a total value of $2,726,900.00. 3.30% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Lisanti Capital Growth LLC purchased a new position in shares of Inphi in the 3rd quarter worth approximately $4,229,000. Delta Investment Management LLC purchased a new position in shares of Inphi in the 3rd quarter worth approximately $2,105,000. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Inphi by 18.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 161,020 shares of the semiconductor company’s stock worth $9,830,000 after purchasing an additional 25,344 shares during the period. Coronation Fund Managers Ltd. purchased a new position in shares of Inphi in the 3rd quarter worth approximately $1,126,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Inphi by 169.5% in the 3rd quarter. California Public Employees Retirement System now owns 104,045 shares of the semiconductor company’s stock worth $6,352,000 after purchasing an additional 65,441 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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