Needham & Company Maintains a 'Buy' on Inphi Corp. (IPHI); Downward Revision to Estimates
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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 maintains a 'Buy' on Inphi Corp. (NYSE: IPHI) price target lowered from $20 to $11.
Needham analyst says, "IPHI negatively pre-announced 3Q11 results and now expects revenue to fall well short of prior expectations. The company now believes Romley platforms will not be introduced until 1Q12 rather than in late 2011. Additionally, IPHI is experiencing reduced lead times across both its computing and networking end markets due to OEM efforts to reduce inventory accumulated following the Japanese earthquake and tighter inventory management in an uncertain macro-environment. However, we believe IPHI can re-load and post strong 2012 growth driven by the launch of Romley and normalization in customer order patterns." (Needham slashes FY11 EPS estimate from $0.50 to $0.25 and FY12 from $0.80 to $0.35)
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 $10.50 yesterday.
Needham analyst says, "IPHI negatively pre-announced 3Q11 results and now expects revenue to fall well short of prior expectations. The company now believes Romley platforms will not be introduced until 1Q12 rather than in late 2011. Additionally, IPHI is experiencing reduced lead times across both its computing and networking end markets due to OEM efforts to reduce inventory accumulated following the Japanese earthquake and tighter inventory management in an uncertain macro-environment. However, we believe IPHI can re-load and post strong 2012 growth driven by the launch of Romley and normalization in customer order patterns." (Needham slashes FY11 EPS estimate from $0.50 to $0.25 and FY12 from $0.80 to $0.35)
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 $10.50 yesterday.
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