Monolithic Power price target raised to $505 from $435 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the firm’s price target on Monolithic Power to $505 from $435 and keeps a Buy rating on the shares. The company delivered an "impressively in-line report," resisting the trend toward weaker guides currently pervasive across the semi sector, the analyst tells investors. The overall message of order stabilization and the management’s confidence in the company’s ability to deliver continued outsized growth will maintain investor optimism, the firm says. Overall, Monolithic Power will not be immune from intensifying macro/semi cyclical headwinds, but, with growth drivers yielding continued fundamental outperformance and the company’s solid cost discipline, Deutsche Bank continues to believe the company warrants its premium valuation.