Inphi Corporation (IPHI) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 45 from a previous price target of $44 . Needham advised their investors in a research report released on Aug 9, 2016.
On the company’s financial health, Inphi Corporation reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.28. The company had revenue of $60.50 million for the quarter, compared to analysts expectations of $69.30 million. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Inphi Corporation opened for trading at $36 and hit $36.5875 on the upside on Monday, eventually ending the session at $36.11, with a gain of 0.58% or 0.21 points. The heightened volatility saw the trading volume jump to 7,54,518 shares. Company has a market cap of $1,458 M.
In a different news, on May 31, 2016, Bruce M Mcwilliams (director) sold 1,670 shares at $31.05 per share price. According to the SEC, on May 16, 2016, Richard Ogawa (General Counsel) sold 11,777 shares at $28.96 per share price. On May 12, 2016, Ford Tamer (President & CEO) sold 40,000 shares at $30.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Inphi Corporation is a fabless provider of analog and mixed signal semiconductor solutions for the communications datacenter and computing markets. The Company’s solutions provide an interface between analog signals and digital information in systems such as telecommunications transport systems enterprise networking equipment datacenters and enterprise servers storage platforms test and measurement equipment and military systems. The Company’s semiconductor solutions are designed to address bandwidth bottlenecks in networks and enable the rollout of communications datacenter and computing infrastructures. It is engaged in developing broadband analog semiconductors operating at frequencies of up to 100 gigahertz. It has developed specific internal models and design kits for each process to support a uniform design methodology across its semiconductor solutions.