Needham & Company Reiterates a 'Buy' on Monolithic Power (MPWR); Executing on its Revenue Diversification Strategy

Needham & Company reiterates a 'Buy' on Monolithic Power Systems (NASDAQ: MPWR) price target of $16.00.

Needham analyst says, "MPWR reported Q3 results that were in line with the pre-announced guidance and provided Q4 revenue and earnings guidance of a 12% decline Q/Q. Though the revenue guidance is about 8% below expectations, it is on par with peers. Relative to the broader industry MPWR generated more revenue growth in industrial applications across multiple controls and metering applications in both Europe and China with the common thread being power efficiency. For Q4 management is expecting all areas to decline Q/Q and indicated it doesn't see any reason why Q1 would grow over Q4 (i.e. buck the normal Q/Q decline). We lowered our 2011 estimates from $201M/$0.75 to $195M/$0.67 and our 2012 estimates from $217M/$0.90 to $210M/$0.80."

For more ratings news on Monolithic Power Systems click here and for the rating history of Monolithic Power Systems click here.

Shares of Monolithic Power Systems closed at $12.75 yesterday.

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