Needham analyst Quinn Bolton maintained a Buy rating on Monolithic Power (NASDAQ: MPWR) today and set a price target of $155. The company’s shares opened today at $140.80.
Bolton noted:
“We had the chance to speak with management today regarding the sell-off in MPWR shares following the company’s presentation yesterday at a competitor’s conference. Management made comments relating to a change in its customer’s ordering patterns to more normal levels that we believe may have been misconstrued. Over the last three quarters, the company has been experiencing order patterns above historical levels. MPWR has been tracking and taking measures to prevent channel build up with OEMs and distributors during this time. Given the company’s efforts to prevent increases in channel inventory, we believe the impact will be minimal as orders normalize. The company remains confident about its momentum into 2H18 and does not view these changes in order patterns to be a comment on the broader industry and its trends. $155 PT .”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 16.1% and a 65.6% 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 $157.20, implying an 11.6% upside from current levels. In a report issued on August 29, KeyBanc also maintained a Buy rating on the stock with a $170 price target.
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Monolithic Power’s market cap is currently $5.98B and has a P/E ratio of 76.42. The company has a Price to Book ratio of 10.32.
Based on the recent corporate insider activity of 80 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.
