Needham & Company Reiterates a 'Buy' on Inphi Corp. (IPHI); Thesis Remains Unchanged Following a Secondary Offering and In-Line 1Q11

Needham & Company reiterates a 'Buy' on Inphi Corp. (NYSE: IPHI), PT increased from $22 to $24.

Needham analyst says, "It has been quite some time since we were last able to publish on IPHI, and much has changed since our February 3 note; a secondary offering, dismissal of patent litigation and 1Q11 earnings results. Selling shareholders accounted for a majority of the secondary offering, and 1Q11 results / 2Q11 guidance were each in line with our expectations, so our model and investment thesis have scarcely changed. We continue to believe IPHI is poised for a large 2H11 revenue ramp as iMBs for LR-DIMMs ship with Intel’s Romley server platform. We recommend investors accumulate shares ahead of this ramp, reiterate our Buy rating and are increasing our price target."

For more ratings news on Inphi Corp. click here and for the rating history of Inphi Corp. click here.

Shares of Inphi Corp. closed at $19.89 yesterday.

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