Needham Alex Henderson raised his price target for Inphi (IPHI) to $44 from $40. With the company's announced divestiture of the memory interface business to Rambus (RMBS), Inphi has become a pure play semiconductor supplier to the optical communications market, the analyst tells investors in a research note. Not only should the remaining business be higher growth but also the business should carry higher gross margin, he contended. The analyst says Inphi remains his top pick in his semiconductor coverage universe and reiterates a Strong Buy rating on the shares.