Needham & Company Reiterates a 'Buy' on Monolithic Power (MPWR); Back in the Saddle Again

Needham & Company reiterates a 'Buy' on Monolithic Power Systems (NASDAQ: MPWR) price target raised from $16 to $20.

Analyst, Vernon Essi, "MPWR reported Q4 results that were above consensus and the guided range while also providing Q1 guidance that was about 8% above consensus forecasts. This is clearly a reversal of prior trends at MPWR and further reinforces management's strategy of diversifying away from its more competitive Consumer offerings and into higher margin longer life cycle infrastructure offerings in Computing, Industrial and Communications. The pipeline of products in enterprise storage, internet appliance, and network infrastructure should prompt revenue upside with strong GM levels as 2012 progresses thus attracting incremental buyers of MPWR shares. We fine tuned our 2012 Revenue/EPS estimates from $210M/$0.80 to $213M/$0.80 and introduced our 2013 estimates of $226M/$0.95."

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 $16.27 yesterday.

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