Needham & Company Raises Price Target on Monolithic Power Systems (MPWR) Following Investor Meeting
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company reiterated a Buy rating on Monolithic Power Systems (NASDAQ: MPWR), and raised the price target to $87.00 (from $76.00), after hosting an investor day with management. CFO, Mr. Blegen highlighted two opportunities, game console and server power management solutions, that represent the two largest revenue drivers over the next two years.
Analyst Quinn Bolton commented, "We hosted the CFO on Monolithic Power, Mr. Bernie Blegen, for a day of investor meetings in New York earlier this week. While MPWR has a multitude of revenue growth drivers over the next several years, Mr. Blegen highlighted two opportunities, game console and server power management solutions, that represent the two largest revenue drivers over the next two years. We believe power management for a next generation game console could account for 1/3 to 1/2 of revenue growth in 2017 and increased power management share on Purley servers could account for half or more of revenue growth in CY18. With solid visibility into these growth drivers, we are introducing our 2018 estimates and raising our PT to $87, or 25X CY18 NG EPS plus net cash per share, from $76. We reiterate our Buy rating."
Shares of Monolithic Power Systems closed at $76.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!