Piper Jaffray reiterated an Overweight rating and $61.00 price target on Monolithic Power Systems (NASDAQ: MPWR) following the company's 3Q15 earnings results. MPWR reported revenue and non-GAAP EPS of $91.2M and $0.55, largely inline with consensus expectations for $91M and $0.54.

Analyst Ruben Roy commented, "MPWR reported revenue and non-GAAP EPS of $91.2M and $0.55, largely inline with consensus expectations for $91M and $0.54. The Q4 outlook was also mostly inline with lower opex a modest positive surprise. MPWR continues to benefit from new product and new design ramps across multiple end markets. In Q3, a new design win at an SSD customer drove material Q/Q growth, which, combined with double digit sequential growth in the consumer and industrial segments, more than offset declines in the communications segment. We continue to view MPWR as one of the best small cap growth stories in the semiconductor area."

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Shares of Monolithic Power Systems closed at $57.76 yesterday.