Needham & Company Reiterates Strong Buy on Inphi Corp. (IPHI) Following Solid 2Q

August 9, 2016 8:11 AM EDT
Get Alerts IPHI Hot Sheet
Price: $45.90 -1.08%

Rating Summary:
    14 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
Trade IPHI Now!
Join SI Premium – FREE

Get daily under-the-radar research with's Stealth Growth Insider Get your 2-Wk Free Trial here.

Needham & Company reiterated a Strong Buy rating on Inphi Corp. (NYSE: IPHI), and raised the price target to $45.00 (from $44.00), following the company's 2Q earnings report. IPHI reported revenue from continuing operations of $60.5MM, easily ahead of $57.5MM estimates. NG EPS was $0.32, including a $0.02 tax benefit, better than $0.28 estimates.

Analyst Quinn Bolton commented, "Excluding its memory business, Inphi reported betterthan-expected 2Q16 results and 3Q16 guidance driven by accelerating Y/Y growth in its core optical business that is now expected to grow ~60% Y/Y in 2016. IPHI is experiencing strength in several areas including long haul, metro, DCI, and China, with the company increasing its share for linear TIAs and drivers. The company's ColorZ DWDM system is gaining traction with evaluation demand from several cloud and system OEM customers and should contribute meaningful revenue growth in 2017/2018. With strong visibility into year-end, we reiterate our Strong Buy rating, increase our NG EPS estimates and raise our PT to $45 from $44."

For an analyst ratings summary and ratings history on Inphi Corp. click here. For more ratings news on Inphi Corp. click here.

Shares of Inphi Corp. closed at $36.11 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company, Earnings

Add Your Comment