Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $918.00 at Truist Financial

Monolithic Power Systems (NASDAQ:MPWR) had its price objective raised by equities researchers at Truist Financial from $799.00 to $918.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s price objective would suggest a potential upside of 10.60% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MPWR. Needham & Company LLC restated a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Rosenblatt Securities raised their target price on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. KeyCorp increased their target price on Monolithic Power Systems from $850.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Oppenheimer boosted their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average price target of $837.25.

Monolithic Power Systems Stock Up 5.7 %

Shares of NASDAQ:MPWR opened at $830.00 on Friday. Monolithic Power Systems has a 12-month low of $392.10 and a 12-month high of $891.67. The company’s 50 day moving average price is $809.53 and its two-hundred day moving average price is $725.80. The firm has a market cap of $40.40 billion, a PE ratio of 98.93, a PEG ratio of 4.31 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $507.40 million for the quarter, compared to analyst estimates of $490.66 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. On average, research analysts expect that Monolithic Power Systems will post 10.37 EPS for the current year.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, Director Victor K. Lee sold 1,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $820.46, for a total value of $820,460.00. Following the transaction, the director now directly owns 29,232 shares of the company’s stock, valued at $23,983,686.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Theodore Blegen sold 737 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $689.98, for a total transaction of $508,515.26. Following the transaction, the chief financial officer now directly owns 74,986 shares of the company’s stock, valued at $51,738,840.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victor K. Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $820.46, for a total transaction of $820,460.00. Following the completion of the sale, the director now directly owns 29,232 shares of the company’s stock, valued at $23,983,686.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,209 shares of company stock valued at $69,015,793. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds and other institutional investors have recently modified their holdings of MPWR. Arizona State Retirement System increased its position in shares of Monolithic Power Systems by 1.5% during the 4th quarter. Arizona State Retirement System now owns 12,475 shares of the semiconductor company’s stock valued at $7,869,000 after purchasing an additional 184 shares during the last quarter. Private Trust Co. NA lifted its stake in Monolithic Power Systems by 145.8% in the fourth quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 70 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Monolithic Power Systems by 38,510.1% during the fourth quarter. International Assets Investment Management LLC now owns 76,448 shares of the semiconductor company’s stock valued at $48,222,000 after purchasing an additional 76,250 shares during the period. Prime Capital Investment Advisors LLC increased its position in Monolithic Power Systems by 57.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,090 shares of the semiconductor company’s stock worth $688,000 after buying an additional 398 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Monolithic Power Systems by 2.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 8,823 shares of the semiconductor company’s stock worth $5,565,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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.