{
  "docId": "019dd923-622c-750b-8b98-c99fec0ed8aa",
  "docSlug": "1c836eeb374c",
  "documentTitle": "Monolithic Power Systems (MPWR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-10-09 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 32,
  "pageCount": 95,
  "prevPage": 31,
  "nextPage": 33,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "The slide highlights Monolithic's upward trend in inventory compared to the relatively stable or fluctuating trends of its peers, with a specific annotation on the Renesas chart regarding an acquisition.",
  "elementsJson": [
    "headline_text",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-c99fec0ed8aa/32",
  "deckHref": "/decks/019dd923-622c-750b-8b98-c99fec0ed8aa",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-c99fec0ed8aa.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-c99fec0ed8aa#slide-32",
  "components": [
    {
      "bbox": {
        "h": 0.04,
        "w": 0.1,
        "x": 0.405,
        "y": 0.65
      },
      "kind": "callout",
      "text": "Acquired Intersil Corp",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7e725f95-2ab7-4168-8072-5cefb66d5155",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.345,
        "w": 0.31,
        "x": 0.325,
        "y": 0.57
      },
      "kind": "chart",
      "text": "Renesas Electronics",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "39a335e3-e2a7-448f-bd29-8e584684ee59",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.345,
        "w": 0.31,
        "x": 0.638,
        "y": 0.57
      },
      "kind": "chart",
      "text": "Semtech",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6152d4a8-a412-4262-b43e-3f29383160d6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.345,
        "w": 0.325,
        "x": 0.318,
        "y": 0.175
      },
      "kind": "chart",
      "text": "Monolithic Power System",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "885c3c64-8535-44ae-833e-3eeb76941d1e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.345,
        "w": 0.31,
        "x": 0.012,
        "y": 0.57
      },
      "kind": "chart",
      "text": "On Semiconductor",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e21d1930-a068-474b-986d-7cf086471392",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "inventory",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee38-728b-98ca-ed55ada634b1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.02,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Bloomberg",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b078edd9-69be-4fab-8c89-30d83a94b437",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.305,
        "y": 0.03
      },
      "kind": "title",
      "text": "Monolithic's Ballooning Inventory Relative To Industry Peers (cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "54fbf159-58a1-49f4-ae6f-59b49dc74d0f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 40,
      "from": 7,
      "beatId": "d8746476-9a97-4214-9f12-49d6bd9131a5",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document then agitates the problem, presenting numerous examples of accounting and disclosure red flags.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 40,
      "from": 30,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "34f0562e-ce69-44bc-a8d8-f1ebcc6b8b72",
      "evidence": "The document presents numerous examples of accounting and disclosure red flags, testing the hypothesis that MPWR's financials are suspect.",
      "position": 2,
      "objective": "To test the hypothesis that MPWR's financials are suspect",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.6,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}