Needham & Company Maintains a 'Buy' on Monolithic Power (MPWR); Raising Numbers on Strong Q1
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Price: $1,402.01 +2.90%
Rating Summary:
18 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Monolithic Power Systems (NASDAQ: MPWR) price target raised from $20 to $23.
Analyst, Vernon Essi, Jr, said, "MPWR reported Q1 results that easily surpassed consensus and provided Q2 guidance that was equally impressive, in our view. Management continues to emphasize its ongoing strategy of diversifying away from Consumer and into higher margin offerings in Computing, Industrial and Communications. However, the Q1 strength was felt in all areas as Consumer performed better Q/Q than expected seasonally and GM weakened a touch, which runs counter to the prior messaging that increased exposure to the enterprise storage, STB, and network infrastructure should boost GM levels.
Nonetheless, upside was material. We expect the shares to respond favorably and we raise our estimates, taking 2012 Revenue/EPS estimates from $213M/$0.80 to $229M/$1.00 and our 2013 estimates from $226M/$0.95 to $250M/$1.20."
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 $20.72 yesterday.
Analyst, Vernon Essi, Jr, said, "MPWR reported Q1 results that easily surpassed consensus and provided Q2 guidance that was equally impressive, in our view. Management continues to emphasize its ongoing strategy of diversifying away from Consumer and into higher margin offerings in Computing, Industrial and Communications. However, the Q1 strength was felt in all areas as Consumer performed better Q/Q than expected seasonally and GM weakened a touch, which runs counter to the prior messaging that increased exposure to the enterprise storage, STB, and network infrastructure should boost GM levels.
Nonetheless, upside was material. We expect the shares to respond favorably and we raise our estimates, taking 2012 Revenue/EPS estimates from $213M/$0.80 to $229M/$1.00 and our 2013 estimates from $226M/$0.95 to $250M/$1.20."
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 $20.72 yesterday.
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