Monolithic Power Systems (NASDAQ:MPWR) Receives “Outperform” Rating from Oppenheimer

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer in a report released on Monday,Benzinga reports. They currently have a $900.00 target price on the semiconductor company’s stock. Oppenheimer’s target price indicates a potential upside of 39.04% from the stock’s current price.

Several other research analysts have also commented on the stock. Truist Financial reiterated a “buy” rating and set a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Rosenblatt Securities cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Loop Capital started coverage on Monolithic Power Systems in a research report on Monday. They set a “hold” rating and a $660.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $950.00 price target on shares of Monolithic Power Systems in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $916.73.

Monolithic Power Systems Trading Down 15.0 %

MPWR opened at $647.31 on Monday. The company has a market capitalization of $31.58 billion, a price-to-earnings ratio of 72.98, a PEG ratio of 3.62 and a beta of 1.15. Monolithic Power Systems has a 12-month low of $500.54 and a 12-month high of $959.64. The business’s fifty day simple moving average is $881.04 and its 200-day simple moving average is $830.41.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The business had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. On average, equities research analysts predict that Monolithic Power Systems will post 10.46 EPS for the current year.

Insider Buying and Selling

In other news, EVP Deming Xiao sold 10,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total value of $9,500,000.00. Following the sale, the executive vice president now directly owns 29,714 shares of the company’s stock, valued at $28,228,300. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $908.36, for a total transaction of $2,270,900.00. Following the sale, the chief financial officer now directly owns 59,178 shares of the company’s stock, valued at $53,754,928.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deming Xiao sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total value of $9,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 29,714 shares of the company’s stock, valued at $28,228,300. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,759 shares of company stock worth $34,985,340. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Monolithic Power Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock valued at $3,739,318,000 after buying an additional 55,874 shares during the period. Van ECK Associates Corp grew its position in shares of Monolithic Power Systems by 26.3% during the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after acquiring an additional 93,362 shares during the period. Earnest Partners LLC increased its stake in shares of Monolithic Power Systems by 5.2% in the 1st quarter. Earnest Partners LLC now owns 290,876 shares of the semiconductor company’s stock valued at $197,045,000 after purchasing an additional 14,327 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Monolithic Power Systems by 14.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 275,979 shares of the semiconductor company’s stock worth $226,767,000 after purchasing an additional 34,557 shares during the period. Finally, American Century Companies Inc. boosted its position in Monolithic Power Systems by 0.5% during the second quarter. American Century Companies Inc. now owns 235,508 shares of the semiconductor company’s stock worth $193,513,000 after purchasing an additional 1,262 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

About Monolithic Power Systems

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.