Monolithic Power Systems designs, develops, markets and sells semiconductor power products for the computing and storage, automotive, industrial, communications and consumer markets. The company sells direct current (DC) to direct current (DC) integrated circuits (ICs) for voltage conversion and management in a variety of electronic systems, including portable electronic devices, wireless LAN access points, PCs and laptops, monitors, infotainment applications and medical applications. It also provides lighting control integrated circuits for backlights, which are used in systems providing light sources for LCD panels in TVs, monitors, car navigation systems, monitors, notebooks, etc.
Monolithic Power Systems $MPWR stock is just hours away from forming a Resurrection CrossWhen the 50 day moving average crosses above the 200 day moving average, it is called a Resurrection Cross. Conversely, when the 50 day moving average crosses below the 200 day mov.... The stock is in a technical uptrend; however, short-term it is overbought and it formed an inverted hammer with a long upper shadow on February 9, 2023. The stock is up over 40% in the last 3 months!
Monolithic Power price target raised at Deutsche Bank
On February 9, 2023, Deutsche Bank analyst Ross Seymore maintained a Buy rating on the stock while increasing the price target for Monolithic Power to $505 from $435. According to the analyst, the company impressively met expectations with its report, defying the current trend in the semi sector toward weaker guides. According to the company, investor optimism will be maintained by the overall message of order stabilization and the management’s belief in the company’s ability to continue delivering outsized growth. Overall, Monolithic Power won’t be immune to escalating macro-cyclical headwinds, but with growth drivers producing ongoing fundamental outperformance and the company’s strong cost management, Deutsche Bank still thinks the company is worth its premium valuation.
