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Fly News Breaks for May 3, 2019
MPWR
May 3, 2019 | 07:18 EDT
KeyBanc analyst John Vinh downgraded Monolithic Power to Sector Weight from Overweight, saying the has exceeded his prior $150 price target and is trading near its peak multiple. Additionally, Vinh tells investors in a research note that with 2019 growth lowered to mid-single-digits, it's evident the current correction is expected to be extended. He believes Monolithic Power remains one of the best semiconductor franchises, but views risk/reward at current valuations as less favorable and awaits signs of a recovery.
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