Verition Fund Management LLC grew its stake in Inphi Co. (NYSE:IPHI) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,076 shares of the semiconductor company’s stock after buying an additional 9,326 shares during the period. Verition Fund Management LLC owned approximately 0.10% of Inphi worth $1,297,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Northern Trust Corp raised its holdings in Inphi by 0.4% in the 1st quarter. Northern Trust Corp now owns 504,704 shares of the semiconductor company’s stock worth $15,191,000 after purchasing an additional 2,025 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Inphi by 9.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 34,591 shares of the semiconductor company’s stock worth $1,266,000 after acquiring an additional 2,870 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Inphi in the 4th quarter worth about $106,000. Quantum Capital Management increased its stake in shares of Inphi by 39.3% in the 1st quarter. Quantum Capital Management now owns 10,262 shares of the semiconductor company’s stock worth $309,000 after acquiring an additional 2,897 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Inphi by 4.6% in the 1st quarter. Swiss National Bank now owns 66,400 shares of the semiconductor company’s stock worth $1,999,000 after acquiring an additional 2,900 shares in the last quarter.
In other news, VP Ron Torten sold 4,309 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $35.00, for a total transaction of $150,815.00. Following the completion of the transaction, the vice president now directly owns 76,955 shares of the company’s stock, valued at approximately $2,693,425. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Richard Ogawa sold 2,889 shares of the stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $31.25, for a total value of $90,281.25. Following the completion of the transaction, the general counsel now directly owns 53,400 shares of the company’s stock, valued at $1,668,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,740 shares of company stock worth $415,829. 3.40% of the stock is owned by insiders.
Shares of IPHI stock traded down $1.36 on Monday, hitting $33.10. The stock had a trading volume of 10,160 shares, compared to its average volume of 434,395. The company has a market capitalization of $1.51 billion, a P/E ratio of 59.41 and a beta of 0.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 8.76 and a quick ratio of 8.14. Inphi Co. has a one year low of $23.65 and a one year high of $44.32.
Inphi (NYSE:IPHI) last announced its earnings results on Tuesday, April 24th. The semiconductor company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Inphi had a negative net margin of 27.52% and a negative return on equity of 0.01%. The business had revenue of $60.10 million during the quarter, compared to the consensus estimate of $59.82 million. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue was down 35.8% on a year-over-year basis. analysts anticipate that Inphi Co. will post -0.61 earnings per share for the current fiscal year.
Several analysts recently commented on IPHI shares. Needham & Company LLC downgraded shares of Inphi from a “strong-buy” rating to a “buy” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, April 25th. ValuEngine raised shares of Inphi from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. Barclays began coverage on shares of Inphi in a research note on Wednesday, May 30th. They set an “overweight” rating and a $40.00 target price on the stock. Northland Securities cut shares of Inphi from a “market perform” rating to an “under perform” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Inphi from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Inphi presently has a consensus rating of “Hold” and an average price target of $39.60.
Inphi Corporation provides high-speed analog and mixed signal semiconductor solutions for the communications, datacenter, and computing markets worldwide. The company's analog and mixed signal semiconductor solutions offers high signal integrity at data speeds while reducing system power consumption.
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