Monolithic Power Systems (MPWR) PT Raised to $94 at Needham & Company on Guidance

Needham & Company analyst N. Quinn Bolton reiterates Buy rating and increases price target on Monolithic Power Systems (NASDAQ: MPWR) to $94 (from $87), as the company delivered 2016 fourth quarter results and 2017 guidance above consensus, driven by diverse end market strength.

Bolton comments, "MPS delivered better than expected results and guidance driven by strength across multiple end markets. With a diverse set of revenue drivers across the notebook, server, industrial, automotive and gaming segments, we believe MPS enters 2017 poised for share gains and we forecast many of these opportunities will ramp in 2H17. Reflecting the company's strong momentum across multiple markets, we reiterate our Buy rating, increase our forward estimates and raise our PT to $94 from $87. Should the shares open down this morning as indicated after hours, we would be aggressive buyers of the stock."

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