Analysts Hail Monolithic Power Systems Post Q4 Beat

Deutsche Bank analyst Ross Seymore raised the price target on Monolithic Power Systems Inc MPWR to $510 from $470 (20% upside) and kept a Buy.
The analyst expects Monolithic's share gains to continue "with the quality of this growth rising."
Needham analyst Quinn Bolton upgraded Monolithic from Hold to Buy with a $530 (25% upside) price target.
Monolithic Power Systems reported fourth-quarter FY21 revenue growth of 44.4% year on year to $336.5 million, beating the consensus of $321.3 million.
The non-GAAP gross margin expanded 220 bps to 57.9%. Non-GAAP EPS of $2.12 beat the consensus of $1.87.
The board raised the quarterly cash dividend per share by 25% to $0.75, payable on April 15, 2022, to stockholders of record on March 31, 2022.
Monolithic sees Q1 FY22 revenue of $354 million - $366 million, above the consensus of $322 million.
"MPS's strong financial performance in 2021 was largely due to a 40 percent increase in fab and assembly capacity, which supported our high-value, greenfield-product, revenue ramp. Looking ahead, MPS is on track to expand capacity in 2022 well beyond $2 billion, allowing the company to successfully ramp new product revenue and achieve strategic market share gains in 2023, 2024 and beyond," said Michael Hsing, CEO, and founder of MPS.
Price Action: MPWR shares traded higher by 3.89% at $423.14 on the last check Friday.

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