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  "docSlug": "1c836eeb374c",
  "documentTitle": "Monolithic Power Systems (MPWR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-10-09 00:00:00",
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  "pageNumber": 55,
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  "notes": "The slide uses a callout box to frame the data as evidence of potential earnings manipulation.",
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      "kind": "callout",
      "text": "It's remarkable that after analyzing the average quarterly gross margin deviation from estimate and the average gross margin guidance deviation, the result is zero with negligible standard deviation. We cannot find any other MPWR peer capable of producing these results. Our conclusion: Either MPWR has a superior ability to manage its business in a cyclical industry, or its numbers are being reported in a way as to never miss analyst estimates",
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      "kind": "callout",
      "text": "Our conclusion: Either MPWR has a superior ability to manage its business in a cyclical industry, or its numbers are being reported in a way as to never miss analyst estimates",
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      "text": "Gross Margin: 0.00%",
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      "kind": "source-note",
      "text": "Source: Bloomberg SURP function",
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      "kind": "table",
      "text": "Table of quarterly gross margin data from Q1 13 to Q2 19",
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      "kind": "title",
      "text": "Quarterly Gross Margin Results Since 2013",
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