Needham lowered the firm’s price target on Monolithic Power (MPWR) to $950 from $1,000 and keeps a Buy rating on the shares. The company reported another beat and raise, but its Enterprise Data segment missed estimates due to a large customer digesting inventory and another pushing out orders. The stock will most likely consolidate gains as Enterprise Data flattens out from Q2 of 2024 to Q1 of 2025, but shares should regain momentum once Enterprise Data revenue starts to re-accelerate, the firm added.
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