Inphi intends to use the remainder of the net proceeds from the offering of the notes for general corporate purposes, counting financing potential acquisitions and other planned transactions. (NYSE:IPHI) from an outperform rating to a market perform rating in a research report released on Wednesday.
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A total of 13 analysts have released a research note on the company. Zacks Investment Research raised shares of Inphi Corp. from a sell rating to a hold rating and set a $47.00 target price for the company in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. raised its stake in Inphi Corp.by 7.4% in the first quarter. Inphi Corp. presently has a consensus rating of “Buy” and an average price target of $38.22. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. Needham has “Strong Buy” rating and $33 price target.
In other Inphi Corp. news, CEO Ford Tamer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The company exchanged total volume of 18.27 million shares throughout course of last trade however it holds an average trading capacity of 13.01 million shares.
Maplelane Capital scooped up 541,710 additional shares in Inphi Corporation during the most recent quarter end, the firm said in a disclosure report filed with the SEC on Aug 15, 2016. Torten Ron retains 61,000 shares in the stock after this transaction. This activity could also cause or avoid an increase or a decrease in the market price of Inphi’s common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of the notes, it could affect the amount and value of the consideration that noteholders will receive upon conversion of the notes. The company recorded a trading capacity of 2.21 million shares above its three months average daily volume of 630.65 thousand shares.
Other hedge funds and institutional investors recently bought and sold shares of the company. Inphi Corporation makes up approx 0.02% of Balyasny Asset Management’s portfolio.Spark Investment Management reduced its stake in IPHI by selling 80,200 shares or 55.77% in the most recent quarter. For the next quarter the company has anticipated average revenues of $71.78M, according to the sentiments of 9 analysts. Wellington Management Group LLP now owns 1,582,150 shares of the company’s stock valued at $52,748,000 after buying an additional 939,018 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Inphi Corp. during the first quarter worth about $267,000. Insight Capital Research & Management Inc. purchased a new stake in Inphi Corp. during the second quarter valued at about $2,928,000.
Inphi Corporation’s (IPHI) has price-to-cash ratio of 5.14 and price to sale ratio of 6.64. Inphi Corporation has logged a 50-day average of $39.31 and two hundred day moving average of $32.87. This depreciation has taken its market cap to $1.70B.
Inphi Corp. (NYSE:IPHI) last issued its quarterly earnings results on Monday, August 8th. After $0.16 actual EPS reported by Inphi Corporation for the previous quarter, Wall Street now forecasts 43.75% EPS growth. The company had revenue of $60.50 million for the quarter, compared to analysts expectations of $69.30 million. On average, equities research analysts predict that Inphi Corp. will post $1.36 EPS for the current fiscal year.
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Inphi Corporation is a fabless provider of analog and mixed signal semiconductor solutions for the communications datacenter and computing markets.
