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Fly News Breaks for May 3, 2017
IPHI
May 3, 2017 | 06:42 EDT
Jefferies analyst Mark Lipacis views the 17% post-earnings pullback in shares of Inphi as a "prime" buying opportunity. The end of the company's three quarter beat and raise streak can be attributed to an inventory correction in China, Lipacis tells investors in a research note. The addition of a second ColorZ customer, which should ramp in the second half of this year, partially offsets lower China orders, he contends. Lipacis lowered his price target for Inphi shares to $53 from $60 and reiterates a Buy rating on the name.
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