Northland Capital Markets Upgrades Inphi Corp. (IPHI) to Outperform

Northland Capital Markets upgraded Inphi Corp. (NYSE: IPHI) from Market Perform to Outperform and maintains a price target of $31.00.

Analyst Gus Richard commented, "Since our November 9th downgrade on valuation, IPHI shares have declined 20% and we believe that at current levels the risk/reward is once again attractive. We have reduced our below consensus estimates to account for weakness in DDR3 memory revenue. In addition, we are only modeling $5M in PAM4 revenue versus expectations of $10M in CY16 and believe our estimates are de-risked. Upgrading to Outperform (from Market Perform); maintaining our PT of $31."

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 $26.32 yesterday.

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