Needham Believes Monolithic Power (MPWR) Still Has Room to Grow

In a report released today, Quinn Bolton from Needham reiterated a Buy rating on Monolithic Power (NASDAQ: MPWR), with a price target of $150. The company’s shares closed yesterday at $133.37, close to its 52-week high of $137.80.

Bolton commented:

“We attended MPS’ analyst day yesterday at which management provided an upbeat outlook for its future growth drivers and tightened 2Q18 guidance to the upper-end of the previous range. Should the company hit management’s long term target revenue growth (20%+) and operating model, revenue and NG OM could reach $1bn and 36%, respectively, by 2021. The presentations highlighted the growth opportunities in its compute power and battery management solutions as well as significant growth in the Automotive segment. Management also provided details on its prospects with its e.Motion controllers and e-commerce platform. We are incrementally more positive on MPS and reiterate our Buy rating and $150 PT . We have modestly increased our forward estimates.”

According to, Bolton is a top 100 analyst with an average return of 17.7% and a 69.4% 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 Strong Buy and the average price target is $140.43, representing a 5.3% upside.

In a report issued on June 5, Deutsche Bank also maintained a Buy rating on the stock with a $140 price target.

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Monolithic Power’s market cap is currently $5.62B and has a P/E ratio of 80.83. The company has a Price to Book ratio of 10.07.

Based on the recent corporate insider activity of 81 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.

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