12:45 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month target at $700, on a P/E of 43.4x our 2025 EPS view, above peers but within its 10-year historical forward range. We keep our 2024 EPS estimate at $13.76 and raise 2025's to $16.72 from $15.83. MPWR posts Q1 EPS of $2.81 vs. $3.00, beating the $2.66 consensus. Sales rose 1.5%, as growth from enterprise data more than tripled (+217%) and more than offset declines in consumer (-40%), communications (-31%), autos (-17%), industrials (-17%), and storage/computing (-11%). Gross margin compressed 200 basis points to 55.7%, on less favorable mix. We believe the pronounced growth within the enterprise data segment, now 33% of sales vs. 11% a year ago, reflects robust demand for AI servers and greater content growth for MPWR's offerings. Despite declines across all other end-markets and low visibility, we do expect more cyclically driven markets to see stabilization with a more pronounced recovery in '25. DIOs of 175 were stable (up 3 days from Q4) while net cash stands at a healthy $1.3B.