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Why Shares of Inphi Are Surging Today

TheMotleyFool

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Why Shares of Inphi Are Surging TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of Inphi (NYSE: IPHI) jumped on Wednesday after the semiconductor components and optical subsystems provider reported its third-quarter results. Inphi beat analyst estimates across the board, and it provided fourth-quarter guidance that was ahead of expectations. The stock was up 19.1% at 12:30 p.m. EDT.

Inphi reported third-quarter revenue of $94.2 million, up 20.8% year over year and about $4.1 million higher than the average analyst estimate. The company pointed to higher demand for long-haul, metro, and data center products as the key growth driver.

Image source: Getty Images.

Source Fool.com

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