Monolithic Power Systems (MPWR) PT Lowered to $975 at TD Cowen

TD Cowen analyst Matthew Ramsay lowered the price target on Monolithic Power Systems (NASDAQ: MPWR) to $975.00 (from $1,100.00) while maintaining a Buy rating.

The analyst commented, "Strong top-line results were marred by a significant miss in the company's most important segment sending shares -10%. Management had signaled a moderation in Enterprise Data sequentially into SepQ, but we (and investors) clearly underestimated the magnitude. Long-term demand trends and tech differentiation are unchanged, but the bears got fed and share/content will be questioned. Buy, PT to $975."

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