Monolithic Power price target raised to $760 from $660 at Loop Capital

Loop Capital raised the firm’s price target on Monolithic Power (MPWR) to $760 from $660 and keeps a Buy rating on the shares. The company’s Q4 results and Q1 guidance indicate that Monolithic Power continues to take market share in the PMIC and general analog market, just as the company has done year in and year out for nearly a decade, the analyst tells investors in a research note. Monolithic Power’s strong growth and the better-than-seasonal Q1 guide also reflects continued strong data center-specific revenue as well as cyclical strength in broader market, Loop added.