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Fly News Breaks for May 23, 2019
IPHI
May 23, 2019 | 08:47 EDT
Craig-Hallum analyst Richard Shannon lowered his price target for Inphi to $53 from $58, while reiterating a Buy rating on the shares. The analyst notes that Inphi's lowered guidance is not surprising given the situation with Huawei, and believes is already baked into the stock. Shannon is lowering his estimates assuming Huawei will not be an ongoing customer, but suspects that this lost business will be partially made up.
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