Inphi Corp. (IPHI): Raising PT On Increased Visibility - Needham
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Needham & Company analyst, Quinn Bolton, reiterated his Strong Buy rating on shares of Inphi Corp. (NYSE: IPHI) and raised the price target to $50 from $45 after the company reported better-than-expected 3Q16 results and issued 4Q16 guidance ahead of expectations. Inphi's core communications revenue continued to accelerate and management raised its outlook for this business to grow 60%-65% Y/Y in 2016.
Inphi's ColorZ DWDM system is on track to ship production units to Microsoft in 4Q16 and is currently in full field trials with several other cloud service providers. We expect ColorZ to contribute meaningful revenue growth in 2017/2018. Inphi also announced the acquisition of coherent DSP provider ClariPhy for $275MM in cash, which should be modestly accretive to 2017 and meaningfully accretive to 2018 NG EPS.
Shares of Inphi Corp. closed at $37.85 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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