Loop Capital raised the firm’s price target on Monolithic Power (MPWR) to $800 from $760 and keeps a Buy rating on the shares. The quarterly revenue upside and market share gains Monolithic Power was able to accomplish in FY23-FY24 were driven by the company’s Enterprise Data business group, and in that time frame, Monolithic grew Enterprise Data revenue 185%, the analyst tells investors in a research note. The firm sees Monolithic growing FY25 revenue at least at the consensus view of ~20% despite the uncertainty in the Enterprise Data group.
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