Monolithic Power Systems (MPWR) is expected to see a modest upside to its Q1 results and Q2 outlook after it announced positive preliminary sales on March 20, Oppenheimer said in a note emailed Tuesday.
Oppenheimer analysts attributed the upside to the performance of consumer, storage & compute, and enterprise data lines, offset slightly by slower Tesla (TSLA) units.
The company's momentum should continue in Q2, partially assisted by tariff-related pull-ins, the analysts said.
Monolithic Power is set to release its Q1 results on Thursday.
Artificial intelligence sales should at least remain flat for the year, the analysts said, adding that they expect the company to retain around 50% of its overall share at Nvidia (NVDA) in the year.
In the long term, the analysts said Monolithic Power is positioned to maintain annual organic sales growth at 10% to 15% above its peers.
Oppenheimer reiterated the company's stock rating at outperform and price target at $700.
Price: 582.01, Change: -3.20, Percent Change: -0.55
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