DA Davidson Brokers Reduce Earnings Estimates for Inphi Co. (IPHI)
Inphi Co. (NYSE:IPHI) – Research analysts at DA Davidson reduced their Q3 2020 earnings per share estimates for Inphi in a report released on Tuesday, May 21st. DA Davidson analyst M. Kelleher now anticipates that the semiconductor company will earn $0.20 per share for the quarter, down from their previous forecast of $0.26. DA Davidson has a “Buy” rating and a $52.00 price objective on the stock.
A number of other equities analysts have also issued reports on the company. Craig Hallum reaffirmed a “buy” rating and set a $58.00 price target (up from $48.00) on shares of Inphi in a research note on Wednesday, May 1st. Citigroup increased their price objective on Inphi to $50.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Northland Securities reiterated a “sell” rating and set a $34.00 price objective on shares of Inphi in a research report on Wednesday, May 1st. Deutsche Bank increased their price objective on Inphi from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Bank of America upgraded Inphi from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.88.
Inphi (NYSE:IPHI) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $82.20 million during the quarter, compared to analyst estimates of $80.97 million. Inphi had a negative return on equity of 3.13% and a negative net margin of 30.17%. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS.
In other news, VP Ron Torten sold 1,247 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $45.00, for a total value of $56,115.00. Following the completion of the sale, the vice president now owns 65,090 shares in the company, valued at $2,929,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ford Tamer sold 37,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $48.31, for a total value of $1,787,470.00. Following the completion of the sale, the chief executive officer now owns 444,397 shares of the company’s stock, valued at approximately $21,468,819.07. The disclosure for this sale can be found here. Insiders have sold a total of 65,758 shares of company stock valued at $3,130,920 in the last quarter. Insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in shares of Inphi in the first quarter worth $30,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Inphi in the first quarter worth $65,000. Marshall Wace LLP acquired a new position in shares of Inphi in the first quarter worth $70,000. NumerixS Investment Technologies Inc acquired a new position in shares of Inphi in the fourth quarter worth $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Inphi by 28.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,023 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 666 shares during the last quarter.
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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