Monolithic Power price target raised to $950 from $940 at KeyBanc

KeyBanc analyst John Vinh raised the firm’s price target on Monolithic Power (MPWR) to $950 from $940 and keeps an Overweight rating on the shares. The firm notes the company reported strong Q2 results and Q3 guidance, which solidly beat. While share gains at Nvidia (NVDA) appear lower than expected, KeyBanc sees this as a better long-term outcome for Monolithic. The firm is encouraged by these results and is raising estimates.