Monolithic Power Systems Receives Price Target Hike After Positive Supply Chain Analysis

KeyBanc's John Vinh raised their price target on Monolithic Power Systems (NASDAQ: MPWR) by 2.4% from $830 to $850 on 2024/04/08. The analyst maintained their Strong Buy rating on the stock.

Vinh's price target hike on Monolithic Power Systems followed an analysis of KeyBanc's quarterly supply chain channel checks. The analyst said they "see positive implications as RMAs (Return Merchandise Authorization) for Nvidia H100 servers have dropped significantly suggesting a resolution of the power stage failures." Vinh highlighted that Monolithic Power Systems' market share loss from the issue has been lower than anticipated across both H100 and B100/B200.

In addition to the update on Monolithic Power Systems, on April 8th, 2024, Vinh made several changes to the price targets of other companies in their portfolio. The new price targets and ratings are as follows:

- Arm Holdings PLC: Price target raised by 12.5% from $120 to $135, Strong Buy rating maintained. - Marvell Technology Inc: Price target lowered by -5.3% from $95 to $90, Strong Buy rating maintained. - Micron Technology Inc: Price target raised by 11.1% from $135 to $150, Strong Buy rating maintained. - Nvidia Corp: Price target raised by 9.1% from $1,100 to $1,200, Strong Buy rating maintained. - Qualcomm Inc: Price target raised by 13.9% from $180 to $205, Strong Buy rating maintained.

These updates indicate Vinh's positive outlook on the technology and basic materials sectors, as reflected in their price target adjustments.

Monolithic Power Systems currently enjoys strong support from analysts, with 100% of top-rated analysts rating the stock as a Strong Buy or Buy. No analysts consider it a Hold, and no analysts recommend selling the stock.

Looking at Monolithic Power Systems' performance, the stock has seen an increase of 8% since its last quarterly report on December 31, 2023. Year-over-year, the stock has shown impressive growth, up by 39.4%. During this period, Monolithic Power Systems has outpaced the broader market, with the S&P 500 up by 26.6%.

It is worth noting that KeyBanc analyst John Vinh has an impressive track record, ranking in the top 2% out of 4,535 Wall Street analysts according to WallStreetZen. Vinh specializes in the Technology and Basic Materials sectors and boasts an average return of 16.4% and a win rate of 56.7%.

Monolithic Power Systems, Inc. is a semiconductor-based power electronics solutions company that caters to various markets such as computing and storage, automotive, industrial, communications, and consumer sectors. The company's offerings include direct current (DC) to DC integrated circuits (ICs), which are used to convert and control voltages in electronic systems. They also provide lighting control ICs used in backlighting for LCD panels and general illumination products. Monolithic Power Systems distributes its products through third-party distributors and value-added resellers, as well as directly to original equipment manufacturers and other end customers globally.

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