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Fly News Breaks for June 30, 2016
RMBS, IPHI
Jun 30, 2016 | 14:00 EDT
Roth Capital analyst Brian Alger is positive on Inphi's (IPHI) agreement to sell its memory interface business to Rambus (RMBS), pointing out that the remaining company will be 100% focused on communications, with higher margins and ultimately better growth prospects. The analyst believes the deal will close mid-Q3, with Inphi's management expecting it to be neutral to accretive to EPS in fiscal year 2016 and 2017. Alger reiterates a Buy rating on Inphi's stock and raised his price target on the shares to $40 from $37.
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