After Raymond James and Oppenheimer gave Monolithic Power (NASDAQ: MPWR) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Quinn Bolton maintained a Buy rating on Monolithic Power today and set a price target of $145. The company’s shares closed yesterday at $132.
Bolton wrote:
“MPS reported in-line 4Q18 revenue while 1Q19 guidance was below expectations. 4Q18 NG GM missed expectations due to product mix while 1Q19 NG GM was guided to be flat Q/Q due to lower revenue. MPS saw the effects of a weaker macro environment in 4Q18, which management does not see as a one quarter phenomenon. While MPS’ high volume Consumer products were affected by the macro headwinds in 4Q18, especially in China, MPS is also seeing some delays of new product launches within the Industrial markets driven by macro uncertainties. While we lower our PT to $145 and our revenue and EPS estimates to reflect the demand environment, we remain Buyers as MPS continues to see design win momentum and share gains in its high margin markets despite near term uncertainties.”
According to TipRanks.com, Bolton is a top 100 analyst with an average return of 14.8% and a 65.2% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.
Currently, the analyst consensus on Monolithic Power is a Strong Buy with an average price target of $148.33, a 12.4% upside from current levels. In a report issued on February 6, Oppenheimer also assigned a Buy rating to the stock with a $150 price target.
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Monolithic Power’s market cap is currently $5.6B and has a P/E ratio of 65.35. The company has a Price to Book ratio of 9.17.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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Monolithic Power Systems, Inc. engages in the provision of power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. It operates through the following segments: Consumer, Industrial, Computing and Store, and Communications.
