UPDATE: Piper Jaffray Increases its PT on Monolithic Power to $25

According to a research report this morning, Piper Jaffray increases its PT on Monolithic Power

from $23 to $25 due to a strongly anticipated product momentum. Piper Jaffray stated, “Our takeaways from meeting with the company suggest that it has momentum in the solid state drive market, growing LED lighting revenue and strength in other AC/DC power conversion markets. Longer term, servers, networking and enabling the Internet of Things will add to the company's top line growth. We believe MPWR's products are differentiated and likely will help margins to move higher.” Monolithic Power closed Friday at $18.50 as Piper Jaffray reiterates an Overweight rating.