Oppenheimer Reiterates Outperform On Shares Of Monolithic Power Systems, $45 PT


In a research report released Monday, Oppenheimer analyst Rick Schafer reiterated an Outperform rating on Monolithic Power Systems (NASDAQ:MPWR) with a $45 price target.

Schafer noted, “We see slight upside bias to consensus 3Q sales/EPS estimates of $78M/$0.46. A stand-out greenfield growth story, MPWR could see 4Q outlook limited by the general macro sluggishness echoed by HPA peers. The Street’s forecasting 4Q sales of $74.4M vs our $72M. Industrial/ Auto and Consumer demand is likely down at least seasonally 4Q/3Q. We view any growth deceleration as modest, macro-driven and near term in nature. Our long-term bullish stance remains unchanged as share gains and improved mix drive outsize growth and GM expansion. The 15% pullback from September highs presents an opportunity for investors to add to positions in this unique, early innings story.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rick Schafer has a total average return of 8.4% and a 71.1% success rate. Schafer has an 22.7% average return when recommending MPWR, and is ranked #614 out of 3347 analysts.

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