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Fly News Breaks for May 3, 2017
IPHI
May 3, 2017 | 09:06 EDT
Needham analyst N. Quinn Bolton lowered his price target for Inphi to $46 from $55 after the company reported in-line Q1 results but guided Q2 well below expectations reflecting an inventory buildup in the China Long Haul and Metro segment. As the analyst believes this is just a one or two quarter inventory correction, he encourages investors to buy the stock on weakness ahead of the anticipated recovery in 2H17. He reiterates a Strong Buy rating on the shares.
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