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Monolithic Power Systems, Inc. (MPS) is a fabless global company that designs, develops, and markets high-performance, semiconductor-based power electronics solutions. The company focuses on providing innovative power solutions across various markets, including storage and computing, enterprise data, automotive, industrial, communications, and consumer markets . MPS's product offerings are primarily divided into two main families: DC to DC products and Lighting Control products . The company's revenue is predominantly derived from sales to customers outside North America, with a significant portion coming from Asia .
- DC to DC Products - Develops integrated circuits used for voltage conversion and control in a wide range of electronic systems, serving as the most significant contributor to the company's revenue.
- Lighting Control Products - Provides solutions for backlighting and general illumination, contributing to the company's offerings in lighting applications.
- With your recent disclosure of a customer exceeding 10% of revenue, can you clarify whether this customer concentration is expected to continue, and what risks it might pose to your business strategy?
- Given that the Street is projecting your Enterprise Data segment to reach nearly $1.1 billion in revenue next year, do you believe this expectation is reasonable amidst the competitive pressures and potential pricing challenges you've mentioned?
- Considering that internal inventory days have decreased significantly while channel inventory remains lean, is there a risk that some of your recent growth is driven by inventory fill, and how are you managing inventory levels to prevent future shortages or overages?
- With increasing competition in the AI power market, including aggressive pricing strategies from Chinese suppliers, are you experiencing any pricing pressure, and what measures are you taking to sustain your market position and margins?
- Although you've invested in expanding your data converters product line, revenue from this segment remains small; what challenges are you facing in gaining market share, and how do you plan to accelerate growth in this area?
Competitors mentioned in the company's latest 10K filing.
- Analog Devices
- Infineon Technologies
- NXP Semiconductors
- ON Semiconductor
- Power Integrations
- Renesas Electronics
- ROHM Semiconductor
- Semtech
- STMicroelectronics
- Texas Instruments
These companies are mentioned as primary competitors in the analog and mixed-signal semiconductor industry, which is highly competitive and characterized by decreasing average selling prices over the life of a product .
Recent developments and announcements about MPWR.
Financial Reporting
Auditor Changes
Monolithic Power Systems, Inc. (MPWR) has changed its auditor. On March 18, 2019, the Audit Committee approved the appointment of Ernst & Young LLP (EY) as the new independent registered public accounting firm for the year ending December 31, 2019. Consequently, Deloitte & Touche LLP (Deloitte) was dismissed from this role. The company notified Deloitte of this change on March 20, 2019. Deloitte's reports on the company's financial statements for the years ended December 31, 2018, and December 31, 2017, were not adverse or qualified .