Monolithic Power Systems (NASDAQ:MPWR) PT Raised to $799.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target increased by research analysts at Truist Financial from $789.00 to $799.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s price target would indicate a potential upside of 12.98% from the company’s current price.

A number of other research analysts have also recently commented on the stock. KeyCorp upped their price target on shares of Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Oppenheimer upped their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen raised their price target on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $716.90.

Monolithic Power Systems Stock Performance

Shares of NASDAQ MPWR traded down $5.67 during midday trading on Thursday, hitting $707.22. 585,707 shares of the company’s stock traded hands, compared to its average volume of 544,973. Monolithic Power Systems has a 1 year low of $383.19 and a 1 year high of $778.15. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 3.82 and a beta of 1.22. The firm has a fifty day moving average of $678.85 and a 200 day moving average of $615.35.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.17). The business had revenue of $454.01 million during the quarter, compared to analysts’ expectations of $452.13 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. On average, equities analysts anticipate that Monolithic Power Systems will post 10.05 earnings per share for the current year.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the sale, the chief financial officer now owns 75,723 shares in the company, valued at approximately $50,226,308.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $681.83, for a total transaction of $7,500,130.00. Following the sale, the executive vice president now directly owns 130,744 shares in the company, valued at approximately $89,145,181.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the completion of the transaction, the chief financial officer now owns 75,723 shares in the company, valued at approximately $50,226,308.67. The disclosure for this sale can be found here. Insiders have sold a total of 45,077 shares of company stock valued at $30,986,274 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RiverPark Advisors LLC bought a new stake in Monolithic Power Systems during the first quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in Monolithic Power Systems during the first quarter valued at $31,000. Arlington Trust Co LLC lifted its position in shares of Monolithic Power Systems by 56.1% in the fourth quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Monolithic Power Systems during the 3rd quarter valued at $43,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Monolithic Power Systems in the fourth quarter valued at about $43,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.