Monolithic Power Systems

Sustained gross margins around 55 percent and operating margins in the 20s indicate healthy pricing power for a fabless analog vendor. Integration that removes external passives and reduces board space provides system‑level savings, supporting premium ASPs. Automotive qualifications and enterprise platforms add stickiness for in‑production pricing.

Normal analog ASP erosion exists and competitive responses can pressure price in consumer‑adjacent categories, but MPS’s mix shift toward higher‑value data center, storage and automotive content supports stable to expanding blended margins over time.