Needham & Company Upgrades Inphi Corp. (IPHI) to Strong Buy; Top Pick for 2015

Needham & Company upgraded Inphi Corp. (NYSE: IPHI) from Buy to Strong Buy with a price target of $23.00 (from $22.00).

Analyst N. Quinn Bolton commented, "In conjunction with our industry report, also published this morning, titled "2014 Recap and 2015 Outlook: Turning More Cautious on Semiconductor Stocks," we are upgrading IPHI to Strong Buy from Buy, introducing 2016 estimates and increasing our 12-month PT to $23 from $22. Our new price target is based on a 20x multiple of 2016E non-GAAP EPS. While we are turning more cautious on semiconductor stocks entering 2015, we believe IPHI is positioned to outperform its peers given its significant exposure to the rapid growth of 100G optical networking. We have selected the stock as our top pick entering 2015."

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 $15.52 yesterday.

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