Inphi Corp. (IPHI): 100G/Data Center Trends Remain Positive - Stifel
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Stifel analyst, Tore Svanberg, reiterated his Buy rating on shares of Inphi Corp. (NYSE: IPHI) and raised his price target to $48 from $44 ahead of earnings. For the September quarter, Inphi guided revenue to be $66.8mn-$68.8mn (or $67.8mn/+12.0% at the mid-point).
The analyst is expecting Inphi to report 3Q results toward the high-end of its guidance range and above the analyst's estimate of $67.8mn (Street is at $67.9mn, or 12.2% q/q) and non-GAAP EPS estimate of $0.38 (Street is in line).
The analyst believes fundamentals remain solid, especially in the data center business, where there has also been accelerating demand noted by other companies levered to the space. The analyst believes this should bode well for Inphi and its overlap in hyperscale and overall 100G market
Shares of Inphi Corp. closed at $40.15 yesterday.
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