Needham analyst Quinn Bolton maintained a Buy rating on Monolithic Power (NASDAQ: MPWR) today and set a price target of $150. The company’s shares closed yesterday at $108.43, close to its 52-week low of $103.03.
Bolton said:
“Marking MPS’ 18 th consecutive quarter of posting in-line to better than expected results, the company’s 3Q18 report and 4Q18 guidance were slightly better than expected with 3Q18 revenue reaching a new high watermark. MPS experienced Y/Y growth in all markets except Consumer during 3Q18. Management believes its business within the China market, most notably for traditional Consumer products, has been adversely affected by the geopolitical environment. Despite the slowing in Chinese Consumer market, MPS’ share gains across its high growth markets (Computing& Industrial) remain on track. Given MPS’ ability to deliver growth across diversified markets, we remain buyers of MPWR. We reduce our PT to $150 to reflect a slightly higher share count and modestly lower GM assumptions.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 13.9% and a 60.9% 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 $153.75, representing a 41.8% upside. In a report issued on October 16, KeyBanc also maintained a Buy rating on the stock with a $150 price target.
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Monolithic Power’s market cap is currently $4.58B and has a P/E ratio of 58.61. The company has a Price to Book ratio of 7.92.
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.
