Needham & Company Reiterates a 'Buy' on Monolithic Power Systems (MPWR) After Meeting with Management
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Price: $23.76 -0.67%
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 16 | New: 29
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 16 | New: 29
Trade MPWR Now!
Needham & Company reiterates a 'Buy' on Monolithic Power Systems (NASDAQ: MPWR) price target of $23.00.
Analyst, Vernon Essi, Jr, said, "We hosted client meetings this week in Boston with the CEO and CFO of MPWR. Management discussed the growth opportunities provided by the newer solutions: comm/network infrastructure, server, storage, automotive and LED. Most of these have already been widely discussed as they relate to MPWR and are expected to ramp strongly in late 2012 and be fully reflected in 2013. There were a few areas that were incremental to prior expectations such as MPWR’s VCore power solutions into Tier 2 Romley customers and a long shot product offering in AC/DC. All told, we forecast 9% growth in 2013, and that looks likely to be surpassed if these programs come together. We like MPWR longer term and would look to buy on pullbacks."
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 $20.47 yesterday, with a 52 week range of $9.49-$22.40.
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Analyst, Vernon Essi, Jr, said, "We hosted client meetings this week in Boston with the CEO and CFO of MPWR. Management discussed the growth opportunities provided by the newer solutions: comm/network infrastructure, server, storage, automotive and LED. Most of these have already been widely discussed as they relate to MPWR and are expected to ramp strongly in late 2012 and be fully reflected in 2013. There were a few areas that were incremental to prior expectations such as MPWR’s VCore power solutions into Tier 2 Romley customers and a long shot product offering in AC/DC. All told, we forecast 9% growth in 2013, and that looks likely to be surpassed if these programs come together. We like MPWR longer term and would look to buy on pullbacks."
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 $20.47 yesterday, with a 52 week range of $9.49-$22.40.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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