UPDATE: BofA/Merrill Lynch Double Upgrades Inphi Corp. (IPHI) to Buy

(updated to add analyst name, price target and comment)

BofA/Merrill Lynch analyst Vivek Arya upgraded Inphi Corp. (NYSE: IPHI) from Underperform to Buy, price target $60.00 (from $32.00).

The analyst comments "We believe we have previously underappreciated IPHI’s ability to extend its leadership position in highspeed optical components and the larger-than-expected benefits from the 5G and data center (100G/200G/400G) product cycles. IPHI’s exposure to Huawei has also turned out to be more manageable. Even though the stock is up 58% YTD (vs SOX up 36%), we see opportunity, as the stock is only back to its 2017 peak, while new product cycles are just starting and can continue for the next 2-3 years."

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 $50.10 yesterday.

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