Needham Believes Inphi (IPHI) Won’t Stop Here
In a report released today, Quinn Bolton from Needham assigned a Buy rating to Inphi (IPHI), with a price target of $145.00. The company’s shares closed last Tuesday at $131.10, close to its 52-week high of $142.00.
According to TipRanks.com, Bolton is a top 25 analyst with an average return of 35.5% and a 78.4% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Ultra Clean Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Inphi with a $133.64 average price target, a -2.5% downside from current levels. In a report issued on July 23, Loop Capital Markets also initiated coverage with a Buy rating on the stock with a $157.00 price target.
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The company has a one-year high of $142.00 and a one-year low of $55.72. Currently, Inphi has an average volume of 1.29M.
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Inphi Corp. engages in the provision of analog and mixed signal semiconductor solutions for the communications and computing markets. The Analog and mixed signal semiconductor solutions offers high signal integrity at data speeds while reducing system power consumption. The Semiconductor solutions comprises of solutions that address bandwidth bottlenecks in networks; maximize throughput and minimize latency in computing environments; and enable the rollout of next generation communications, datacenter, and computing infrastructures. The company was founded by Loi Nguyen, Gopal Raghavan, Timothy D. Semones, and Ashok Dhawan in November 2000 and is headquartered in Santa Clara, CA.