Renaissance Technologies LLC reduced its position in shares of Inphi Corporation (NYSE:IPHI) by 74.8% during the first quarter, Holdings Channel reports. The fund owned 66,800 shares of the semiconductor company’s stock after selling 197,800 shares during the period. Renaissance Technologies LLC’s holdings in Inphi Corporation were worth $3,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IPHI. Ameritas Investment Partners Inc. acquired a new position in shares of Inphi Corporation during the first quarter worth approximately $169,000. US Bancorp DE increased its position in shares of Inphi Corporation by 27.5% in the first quarter. US Bancorp DE now owns 3,498 shares of the semiconductor company’s stock worth $170,000 after buying an additional 754 shares during the last quarter. Creative Planning increased its position in shares of Inphi Corporation by 367.5% in the first quarter. Creative Planning now owns 4,025 shares of the semiconductor company’s stock worth $197,000 after buying an additional 3,164 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Inphi Corporation during the first quarter worth approximately $217,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Inphi Corporation by 17.2% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 4,776 shares of the semiconductor company’s stock worth $233,000 after buying an additional 701 shares during the last quarter.

Inphi Corporation (IPHI) traded up 0.50% during mid-day trading on Friday, reaching $36.19. 821,512 shares of the company were exchanged. The company has a 50 day moving average of $36.89 and a 200-day moving average of $41.86. Inphi Corporation has a 1-year low of $33.00 and a 1-year high of $51.78. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.63 and a beta of 1.15.

Inphi Corporation (NYSE:IPHI) last posted its earnings results on Monday, August 7th. The semiconductor company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $84.40 million for the quarter, compared to analyst estimates of $84 million. Inphi Corporation had a net margin of 21.98% and a return on equity of 9.77%. Inphi Corporation’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. On average, equities research analysts forecast that Inphi Corporation will post $1.52 EPS for the current year.

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A number of research analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and issued a $48.25 price target on shares of Inphi Corporation in a report on Wednesday, May 3rd. Northland Securities reaffirmed a “hold” rating and issued a $30.00 price target on shares of Inphi Corporation in a report on Thursday, August 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $44.00 price target (down previously from $49.00) on shares of Inphi Corporation in a report on Tuesday. Deutsche Bank AG lowered their price target on shares of Inphi Corporation from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Morgan Stanley lowered their price target on shares of Inphi Corporation from $48.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $44.77.

About Inphi Corporation

Inphi Corporation is a provider of analog and mixed signal semiconductor solutions for the communications and datacenter markets. The Company’s solutions provide an interface between analog signals and digital information in systems, such as telecommunications transport systems, enterprise networking equipment and datacenters.

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Institutional Ownership by Quarter for Inphi Corporation (NYSE:IPHI)

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