Monolithic Power price target raised to $800 from $700 at Citi

Citi raised the firm’s price target on Monolithic Power (MPWR) to $800 from $700 and keeps a Buy rating on the shares. The company reported strong Q4 results and guided Q1 sales better than feared as strength from the Auto, Computing and Storage businesses offset share loss in the Enterprise Data business, the analyst tells investors in a research note. The firm views the results as reinforcing its thesis that Monolithic is a “long-term diversified quality compounder” that consistently delivers 10%-15% outperformance versus peers. It sees the investor day on March 20 as the next potential catalyst for the stock.