Analyst Tore Svanberg from Stifel Nicolaus maintained a Buy rating on Monolithic Power (MPWR – Research Report) and keeping the price target at $1,100.00.
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Tore Svanberg has given his Buy rating due to a combination of factors, including Monolithic Power’s strong financial performance and strategic market positioning. The company reported a notable fourth-quarter performance, with sales and non-GAAP EPS surpassing expectations, driven primarily by growth in the Automotive and Enterprise Data sectors.
Furthermore, the management’s optimistic outlook for the upcoming quarter, with anticipated revenue and EPS exceeding projections, underscores Monolithic Power’s effective strategy and diverse product offerings. The company’s ability to outperform the broader analog industry, along with its well-rounded suite of power solutions, further supports the Buy rating and a 12-month target price of $1,100.
Svanberg covers the Technology sector, focusing on stocks such as Semtech, Credo Technology Group Holding Ltd, and Marvell. According to TipRanks, Svanberg has an average return of 18.0% and a 59.80% success rate on recommended stocks.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $850.00 price target.