KeyBanc analyst John Vinh raised the firm’s price target on Monolithic Power (MPWR) to $2,000 from $1,500 and keeps an Overweight rating on the shares. The firm notes the company reported strong Q1 results and Q2 guidance, which meaningfully exceeded expectations. Given increased backlog visibility, Monolithic increased its outlook for 2026 ED growth from 50% to 85% and continues to see strong growth in Comms from optical and switching. The company also acknowledged that it is selectively increasing pricing, but remains conservative regarding second half of the year gross margin expansion.
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