Needham & Company Starts Monolithic Power Systems (MPWR) at Buy

Needham & Company initiates coverage on Monolithic Power Systems (NASDAQ: MPWR) with a Buy rating and a price target of $67.00, calling it the fastest growing company in catalog analog.

Analyst N. Quinn Bolton commented, " Effective Sept 14, we are initiating coverage of Monolithic Power Systems, a designer of high performance analog and mixed-signal power management ICs for the Industrial, Consumer, Computing and Communications markets. While the growth rate of the catalog analog IC market has decreased as the semiconductor industry matures, MPWR has distinguished itself as the fastest growing company in the segment. We expect this strong growth to continue, driven by several targeted SAM expansion initiatives and market share gains. Further, we expect steady margin expansion as revenue grows. As we believe the company should trade at a P/E multiple equal to its long-term NG EPS growth rate, we are initiating coverage with a Buy rating and $67 PT, or 24x our 2017 NG EPS estimate plus net cash per share."

For an analyst ratings summary and ratings history on Monolithic Power Systems click here. For more ratings news on Monolithic Power Systems click here.

Shares of Monolithic Power Systems closed at $50.62 yesterday.

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