Oppenheimer Remains Bullish Following Investor Meetings with Monolithic Power Systems (MPWR)

Oppenheimer reiterates an Outperform rating and $60.00 price target on Monolithic Power Systems (NASDAQ: MPWR) following investor meetings with CEO Michael Hsing. Analyst Rick Schafer believes that half of MPWR’s revenues come from new products, and that the design win pipeline continues to expand.

Schafer commented, "We had the opportunity to host MPWR CEO Michael Hsing for investor meetings Tuesday. Tone remains bullish as MPWR benefits from multiple greenfield opportunities poised to drive organic growth at ~15% above the semi industry for the foreseeable future. We believe half of MPWR’s revenues come from new products (less than 3 years old), and the design win pipeline continues to expand. Mgm't spent some time discussing last year's Sensima. While we believe meaningful revenues are unlikely before 2016, Sensima gives MPWR a first-mover advantage in the move to brushless motor drivers—a $1B-plus opportunity, by our math. Further GM expansion, plus ~20% normalized long term top-line growth, leaves this secular growth and GM story in the early innings. We reiterate our Outperform and $60 target."

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 $50.71 yesterday.

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