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UPDATE: Evercore Group Reiterates On Monolithic Power Systems Following Another Record Quarter

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In a report published Friday, Evercore Group analyst Michael Lucarelli reiterated an Overweight rating on Monolithic Power Systems (NASDAQ: MPWR), and raised the price target from $46.00 to $50.00.

In the report, Evercore Group noted, “Our thesis remains intact with MPS delivering a record quarter (+$1.4mn / 2c above Street) and providing a robust outlook of +19% YoY revenue growth at the midpoint, or >2x analog peers. We think the best is yet to come with design wins across networking, auto, industrial, and server just beginning to generate revenues that will (1) deliver continued top-line outperformance of at least 2x vs. peers, (2) structurally lift GMs, and (3) unlock leverage that will (4) support additional s/h returns. Equally important, we do not believe MPS is resting on its laurels and is focused on maintaining its technology lead through organic investments and now with the small, technology tuck-in acquisition of Sensima. Shares have performed in-line with the SOX (+21% YTD) and given the sea of uncertainty in Semis today, we find MPS's stellar, yet steady, growth comforting and see outperformance ahead. Reiterate OW rating and raise PT to $50.”

Monolithic Power Systems closed on Thursday at $41.10.

Latest Ratings for MPWR

DateFirmActionFromTo
Sep 2019MaintainsBuy
Jun 2019Initiates Coverage OnBuy
May 2019DowngradesOverweightSector Weight

View More Analyst Ratings for MPWR
View the Latest Analyst Ratings

Posted-In: Evercore Group Michael LucarelliAnalyst Color Price Target Analyst Ratings

 

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