Needham & Company Downgrades Monolithic Power Systems (MPWR) to Hold

September 13, 2013 6:48 AM EDT
Get Alerts MPWR Hot Sheet
Price: $87.54 +2.25%

Rating Summary:
    9 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company downgraded Monolithic Power Systems (NASDAQ: MPWR) from Buy to Hold with a price target of $30.00.

"Following an on site meeting with mgmt, we believe few scenarios exist in 2H 2013 that could prompt upward revisions and given that MPWR shares met our $30 price target two weeks ago, we have downgraded the stock from Buy to Hold," analyst Vernon Essi, Jr. said. "While Comms shipments (Intelli-Phase) look healthy and Consumer heads into Q3 seasonal strength with the added bonus of a console ramp, the soft spot in storage (Computing) lingers and Consumer may experience a more typical Q4 Q/Q seasonal decline than previously anticipated. We also believe MPWR shares reflect the 2014 revenue opportunity in modules and servers despite our belief that these competitive sockets will prove difficult to penetrate."

For an analyst ratings summary and ratings history on Monolithic Power Systems click here. For more ratings news on Monolithic Power Systems click here.

Shares of Monolithic Power Systems closed at $30.68 yesterday.

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