Needham analyst Quinn Bolton maintained a Buy rating on Monolithic Power (MPWR) today and set a price target of $145. The company’s shares closed on Friday at $136.18.
Bolton noted:
“We hosted CFO, Mr. an NDR in Mid-Atlantic last week. While not immune to the broad macro headwinds affecting the entire semiconductor sector, including U.S./ China tariffs, a slowdown in the Chinese economy and inventory digestion in the cloud data center market, Mr. Blegen made a strong and convincing case that MPWR would continue to grow significantly faster than the analog market due to market share gains, the ramp of new products/design wins and co-development projects with tier-one customers. While revenue for the overall analog segment is likely to decline by up to 5% Y/Y in 2019, we believe MPWR should grow by ~7-10% Y/Y. Further, we believe 2019 Street estimates for MPWR have more upside rather than downside risk. $145 PT .”
According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.2% and a 65.8% 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 $145.
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Monolithic Power’s market cap is currently $5.79B and has a P/E ratio of 57.70. The company has a Price to Book ratio of 9.04.
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.
