Inphi - Enabling Next Gen 100G+ Optical and Networking Connectivity

Key Points

• Initiation: Overweight rating with $55.00 price target (price $41.99 at initiation)
• Service provider segment (55%+ of revenues) driven by 100Gb+ long-haul/metro deployments; Inphi is market share leader in CDR and high-speed linear driver solutions
• 100Gb metro deployments (China infrastructure, North America Verizon/AT&T) expected to drive growth through 2017
• Market opportunity: IPHI amplifier/driver products estimated to grow at 35% CAGR, reaching ~$1B by 2020
• Data center and networking connectivity segments growing with 100G+ adoption; TAM ~$1.9 billion in 2020E growing at 35% CAGR

Summary

JPMorgan initiation coverage on Inphi positioning company as key beneficiary of 100G+ optical networking infrastructure buildout. Covers service provider 100Gb deployment opportunity, data center/networking segment growth, and total addressable market trajectory through 2020.

Source

• File: INPHI-initiation-JPM- Enabling Next Gen 100G+ Optical and Networking Connectivity_2Sep2016.pdf
• Location: Dropbox/2. Semi/Networking/Inphi/
• Pages: 31

Related

• _MOC-networking | IPHI | Optical-Networking | 100G | CDR