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Thursday, Aug 29
Monolithic Power hits 52-week high after Stifel ups price target
- Shares of Monolithic Power Systems (MPWR +4.9%) hit 52-week highs after Stifel Nicolaus raises its price target to $34 from $32, noting that "building a brand in analog takes a long time, but [Monolithic] has transformed its culture in the last three years to be a force in the industry."
- From its discussions with management, Stifel says it is apparent that MPWR continues to experience solid momentum while penetrating new markets, even as it stabilizes its consumer business in 2013.
- Stifel expects MPWR's revenue to outpace expenses by a significant margin, leading to a potential operating margin of 25%-30% in late 2014 or early 2015.