MPWR - What's In Store For Monolithic Power In Q3? Analyst Sees Flattish Growth In Auto Owing To Multiple Delayed Customer Launches | Benzinga
Oppenheimer analyst Rick Schafer reiterated the Outperform rating on Monolithic Power Systems, Inc. (NASDAQ: MPWR), lowering the price target of $500 from $565.
The company will report its results after the market closes on Monday, October 30.
The analyst sees in-line 3Q/4Q results/outlook led by relative strength in AI and auto.
Auto (24%) expected flattish in 3Q and 4Q, reflecting two delayed customer launches.
Auto is still expected to be up 40% this year after doubling in 2022. Schafer expects order velocity to pick up in 1H24.
Schafer ...