Inphi (NASDAQ: IPHI) was upgraded by Piper Jaffray (NYSE: PJC) from a “neutral” rating to an “overweight” rating in a research note issued on Monday.
The analysts wrote, “We are upgrading shares of IPHI as we believe valuation has become attractive at 2x cash of $4/share, new management has reset estimates to reasonable levels, and we believe trends are set to improve for infrastructure in 2H:12. In particular, we expect the new high end Romley-based server introductions to pick up in 2H. Moreover, LRDIMM is being listed as a standard option for new servers which should help penetration, a key catalyst for the company.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley (NYSE: MS) downgraded shares of Inphi from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, April 30th. Separately, analysts at Deutsche Bank (NYSE: DB) reiterated a “hold” rating on shares of Inphi in a research note to investors on Monday, April 23rd. They now have a $14.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at RBC Capital (NYSE: RY) initiated coverage on shares of Inphi in a research note to investors on Monday, April 23rd. They set an “outperform” rating and a $18.00 price target on the stock.
Inphi traded up 12.72% on Monday, hitting $9.13. Inphi has a 1-year low of $7.13 and a 1-year high of $18.99. The company’s market cap is $258.4 million.
Inphi Corporation (Inphi) is a provider of high-speed analog semiconductor solutions for the communications and computing markets.
