Monolithic Power price target lowered to $720 from $925 at Raymond James

Raymond James lowered the firm’s price target on Monolithic Power (MPWR) to $720 from $925 and keeps an Outperform rating on the shares. The company posted a solid quarter, with upside to revised guidance largely driven by a strong rebound in Storage & Computing sales, and Raymond James is encouraged to see a well-diversified growth profile across the rest of the company, the analyst tells investors in a research note. Management now has improved visibility into a strong second half rebound in Enterprise Data as new platforms come to market in volume, the firm says.