Needham & Company Reiterates a 'Buy' on Inphi Corp. (IPHI); Slower Ramp Results in Reduced Estimates But Provides Buying Opportunity
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Price: $172.27 --0%
Rating Summary:
14 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Inphi Corp. (NYSE: IPHI), lowers price target from $24 to $20.
Needham analyst says, "Inphi reported 2Q11 results at the high-end of guidance, but the company’s 3Q11 guidance fell short of expectations due to a slower paced ramp of Intel’s Romley server platform and an inventory overhang for the company’s older noncoherent 40Gbps optical components. We were surprised by IPHI’s cautious outlook for the Romley platform ramp after Intel just last week reiterated the Romley launch remains on schedule. However, it is the rate of ramp rather than the timing of the Romley launch that is behind IPHI’s reduced 2H11 revenue expectations. As Inphi remains the only Intel-validated supplier of iMB components for the Romley platform, is well positioned with nearly all leading optical module and system venders with its 40Gbps and 100Gbps coherent components and remains on track with its 100GbE physical layer devices (SERDES and CDR), we reiterate our Buy and encourage investors to add to positions on weakness."
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 $17.11 yesterday.
Needham analyst says, "Inphi reported 2Q11 results at the high-end of guidance, but the company’s 3Q11 guidance fell short of expectations due to a slower paced ramp of Intel’s Romley server platform and an inventory overhang for the company’s older noncoherent 40Gbps optical components. We were surprised by IPHI’s cautious outlook for the Romley platform ramp after Intel just last week reiterated the Romley launch remains on schedule. However, it is the rate of ramp rather than the timing of the Romley launch that is behind IPHI’s reduced 2H11 revenue expectations. As Inphi remains the only Intel-validated supplier of iMB components for the Romley platform, is well positioned with nearly all leading optical module and system venders with its 40Gbps and 100Gbps coherent components and remains on track with its 100GbE physical layer devices (SERDES and CDR), we reiterate our Buy and encourage investors to add to positions on weakness."
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 $17.11 yesterday.
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