In a report released today, Quinn Bolton from Needham maintained a Buy rating on Monolithic Power (MPWR), with a price target of $150. The company’s shares closed yesterday at $113.75.
Bolton commented:
“In an environment in which semiconductor industry revenue is decelerating, MPWR is targeting another year of 20%+ revenue growth in 2019. Given MPWR’s proven ability to gain market share and its consistent execution the past 18 quarters, we believe our 2019 revenue estimate of ~14% y/ y growth remains conservative. While MPWR has seen some weakness in its lower margin traditional consumer and gaming markets in 2H18, its Industrial segments remain its highest growth engines driven by market share gains and greenfield opportunities in new sub-segments of these markets. In our view, MPWR’s diversified growth profile, management’s consistent execution, and the 2H18 pullback in the shares combine to make MPWR shares our top pick as we enter 2019.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 10.4% and a 58.0% 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 $149.13, representing a 31.1% upside. In a report issued on December 7, Oppenheimer also assigned a Buy rating to the stock with a $150 price target.
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The company has a one-year high of $152.21 and a one-year low of $101.99. Currently, Monolithic Power has an average volume of 480.9K.
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.
