Monolithic Power Systems (NASDAQ:MPWR) Given Buy Rating at Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $950.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 57.95% from the company’s current price.

A number of other equities research analysts have also issued reports on MPWR. Raymond James upped their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, September 27th. Loop Capital started coverage on Monolithic Power Systems in a research note on Monday. They set a “hold” rating and a $660.00 target price for the company. Finally, TD Cowen reduced their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two 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, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and an average target price of $916.73.

Monolithic Power Systems Price Performance

MPWR opened at $601.47 on Tuesday. The firm has a market capitalization of $29.34 billion, a price-to-earnings ratio of 67.81, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15. The company’s 50 day simple moving average is $866.42 and its two-hundred day simple moving average is $828.49. Monolithic Power Systems has a 1-year low of $523.64 and a 1-year high of $959.64.

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

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the transaction, the chief financial officer now owns 61,678 shares of the company’s stock, valued at $55,769,247.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at $96,518,400.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the sale, the chief financial officer now directly owns 61,678 shares in the company, valued at $55,769,247.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,359 shares of company stock worth $36,209,571. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of large investors have recently made changes to their positions in MPWR. Family Firm Inc. acquired a new position in Monolithic Power Systems during the 2nd quarter worth approximately $25,000. NBC Securities Inc. increased its holdings in Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Monolithic Power Systems during the 2nd quarter worth about $33,000. Finally, Crewe Advisors LLC boosted its position in shares of Monolithic Power Systems by 126.3% during the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 24 shares in the last quarter. 93.46% of the stock is currently 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.