Monolithic Power price target raised to $700 from $615 at Citi

Citi raised the firm’s price target on Monolithic Power (MPWR) to $700 from $615 and keeps a Buy rating on the shares. The company reported good Q1 results and guided Q2 sales above consensus with a slight miss on gross margin, the analyst tells investors in a research note. The firm expects Monolithic’s stock volatility to persist until the second half of 2025, when sales from the Enterprise Data end market begin to ramp. Citi remains confident in the company’s ability to deliver a 10%-15% outperformance versus its peers.