Inphi (IPHI) PT Raised to $26 at Northland Capital Markets

Northland Capital Markets analyst Gus Richard reiterated an Outperform rating and lifted his price target on Inphi Corp. (NYSE: IPHI) to $26.00 (from $21.00).

Richard commented, "We are initiating a CY16 estimate of $1.30 on $280.5M of revenue. We roll forward our PT to $26 from $21 based on 20x our CY16 estimate. We reduce our target multiple from 22x to 20x as we move to the out year. We expect top line will likely slow to the mid-teens in CY16 as the company comes up against difficult comps due to the inorganic growth from the Cortina acquisition and new product revenue from Cortina is unlikely before CY17. However, we do expect the company to continue to demonstrate financial leverage driving earnings growth of 37%."

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 $17.74 yesterday.

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