Monolithic Power Systems (MPWR) PT Raised to $1,300 at Needham

Needham analyst Quinn Bolton raised the price target on Monolithic Power Systems (NASDAQ: MPWR) to $1,300.00 (from $1,250.00) while maintaining a Buy rating.

The analyst comments "MPS reported a solid beat and raise led by growth in Enterprise Data. Management remains bullish on broader demand heading into 2026 as its backlog and demand visibility has improved. Our key takeaways include: 1) Overall demand signals are healthy as the company's book-to-bill ratio was well above 1:1 and channel inventory levels are at the low end of the company's target range. 2) Enterprise Data revenue is anticipated to increase 50%+ in FY26, with most of the growth driven by design wins across its customer base and; 3) The company announced that its CFO, Bernie Blegen, will retire upon filling of MPS's 2025 annual report. We increase our PT to $1,300, based on our DCF valuation model that assumes a terminal P/E multiple of 40x on CY30 Non-GAAP earnings and a discount rate of 10.2%."

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