William Kerwin • Morningstar

Question 1

William Kerwin's questions to Monolithic Power Systems Inc (MPWR) leadership • Q4 2024

Feb 6, 2025

Question

William Kerwin asked for a broader view on demand and share gain opportunities in automotive and communications for 2025, and also inquired which of the newly introduced products management finds most exciting.

Answer

EVP and CFO Bernie Blegen stated that automotive growth will continue, driven by EVs in China and supplemented by a European OEM's ADAS solution and North American EV content in the second half. In communications, he noted they are in the early stages of ramping fiber optics opportunities and expect the customer base to diversify. CEO Michael Hsing and Bernie Blegen teased that the most exciting new products have not been announced yet and invited attendees to the Investor Day on March 20th for more details.

Ask Fintool Equity Research AI

Question 2

William Kerwin's questions to Littelfuse Inc (LFUS) leadership • Q4 2024

Jan 29, 2025

Question

William Kerwin from Morningstar asked about the factors behind the Electronics segment's margins being below expectations in Q4 and the outlook for margin evolution in 2025. He also inquired about the long-term (5-year) dynamics in the electric vehicle space, including the move to higher voltage and the electrification of heavy vehicles.

Answer

CFO Meenal Sethna explained that the prolonged down cycle and excess inventory had a further effect on Electronics margins, but she is confident in the margin recovery trajectory for 2025 as volumes return. CEO Dave Heinzmann discussed EVs, stating that higher voltages mean higher content for Littelfuse. He noted the company is well-positioned in China, where most EV growth occurred, and that commercial vehicle electrification offers significant content opportunities beyond full EVs, such as electrifying hydraulic systems.