Inphi (IPHI) PT Lifted at Roth Capital, Sees Lots of Shots On Goal

Roth Capital reiterated a Buy rating on Inphi Corp. (NYSE: IPHI), and raised the price target to $35.00 (from $32.00), following industry checks. December quarter, our checks indicate several sources of potential upside in 2016 and 2017. Near term conditions also appear strong. Checks were confirmed by comments from Neophotonics (NPTN, NC) and Lumentum (LITE, NC) at recent conferences, indicate that China has not only recovered but is showing signs of strong growth in 2016, from both wireless and wireline infrastructure builds.

Analyst Brian Alger commented, "Two thirds of the way through the December quarter, our checks indicate several sources of potential upside in 2016 and 2017. Near term conditions also appear strong. Coming off an impressive $230 million raise, IPHI is poised to make a number of strategic moves, in our opinion. We have updated our model to include the effects from the deal, and given the numerous sources of potential upside over the next 12-18 months, we are increasing our price target to $35."

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 $29.22 yesterday.

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