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Fly News Breaks for July 25, 2018
IPHI
Jul 25, 2018 | 08:51 EDT
DA Davidson analyst Mark Kelleher raised his price target on Inphi to $38 and kept his Neutral rating after its "in-line" Q2 results. Kelleher notes the 16% sequential improvement in revenue, driven by "100% increase in long-haul and metro business" on resumed order trends from China customers after the company absorbed excess inventory. The analyst also cites Inphi's greater operating leverage through reduced spending, which included the 6% staff reduction in Q1.
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