Short Interest in Inphi Co. (NYSE:IPHI) Grows By 6.4%

Inphi Co. (NYSE:IPHI) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 4,911,500 shares, a growth of 6.4% from the May 30th total of 4,617,700 shares. Based on an average daily volume of 932,100 shares, the days-to-cover ratio is currently 5.3 days. Currently, 12.3% of the shares of the stock are short sold.

In related news, General Counsel Richard Ogawa sold 8,150 shares of Inphi stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $46.95, for a total transaction of $382,642.50. Following the sale, the general counsel now owns 40,653 shares of the company’s stock, valued at approximately $1,908,658.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ron Torten sold 9,229 shares of Inphi stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $47.03, for a total value of $434,039.87. Following the sale, the vice president now directly owns 44,004 shares in the company, valued at approximately $2,069,508.12. The disclosure for this sale can be found here. Insiders have sold a total of 68,520 shares of company stock worth $3,286,527 in the last three months. 3.30% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in IPHI. Victory Capital Management Inc. purchased a new position in shares of Inphi in the 1st quarter worth approximately $48,565,000. Jennison Associates LLC boosted its holdings in shares of Inphi by 265.8% in the 1st quarter. Jennison Associates LLC now owns 515,422 shares of the semiconductor company’s stock worth $22,545,000 after purchasing an additional 374,522 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Inphi in the 4th quarter worth approximately $5,552,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Inphi by 1,032.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 131,758 shares of the semiconductor company’s stock worth $4,236,000 after purchasing an additional 120,124 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Inphi by 27.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 248,994 shares of the semiconductor company’s stock worth $10,891,000 after purchasing an additional 54,080 shares during the period.

NYSE:IPHI opened at $59.56 on Wednesday. The company has a current ratio of 8.13, a quick ratio of 7.64 and a debt-to-equity ratio of 1.25. Inphi has a 1 year low of $29.56 and a 1 year high of $60.13. The business has a 50 day moving average price of $49.50. The company has a market cap of $2.70 billion, a P/E ratio of -104.49 and a beta of 1.53.

Inphi (NYSE:IPHI) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The business had revenue of $82.20 million for the quarter, compared to the consensus estimate of $80.97 million. Inphi had a negative return on equity of 3.13% and a negative net margin of 30.17%. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities research analysts expect that Inphi will post -0.12 EPS for the current fiscal year.

Several brokerages recently issued reports on IPHI. DA Davidson decreased their target price on Inphi to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. JPMorgan Chase & Co. reduced their price objective on Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective (down previously from $15.00) on shares of Nabriva Therapeutics in a research note on Wednesday, May 1st. Finally, Bank of America raised Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.21.

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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