Monolithic Power Systems (NASDAQ:MPWR) Receives Buy Rating from Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $800.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 22.59% from the company’s previous close.

MPWR has been the subject of a number of other research reports. TD Cowen lifted their target price 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. Oppenheimer boosted their price objective on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, KeyCorp boosted their price objective on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $670.30.

Monolithic Power Systems Trading Down 2.5 %

NASDAQ:MPWR opened at $652.59 on Thursday. Monolithic Power Systems has a 12 month low of $383.19 and a 12 month high of $778.15. The company has a market cap of $31.76 billion, a PE ratio of 74.50, a price-to-earnings-growth ratio of 3.58 and a beta of 1.21. The company has a 50 day simple moving average of $679.69 and a two-hundred day simple moving average of $613.10.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 22.66% and a net margin of 23.47%. The company had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. Research analysts forecast that Monolithic Power Systems will post 10.05 earnings per share for the current year.

Insider Activity

In other news, insider Deming Xiao sold 859 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the sale, the insider now directly owns 208,580 shares in the company, valued at approximately $141,834,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $750.57, for a total value of $150,114.00. Following the transaction, the director now directly owns 6,269 shares in the company, valued at approximately $4,705,323.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Deming Xiao sold 859 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $680.00, for a total transaction of $584,120.00. Following the completion of the transaction, the insider now owns 208,580 shares in the company, valued at $141,834,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,577 shares of company stock worth $24,033,249. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Monolithic Power Systems by 35.0% in the third quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock worth $1,655,717,000 after buying an additional 929,009 shares during the last quarter. Norges Bank purchased a new position in shares of Monolithic Power Systems in the fourth quarter worth $362,477,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Monolithic Power Systems by 87.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 387,523 shares of the semiconductor company’s stock worth $179,036,000 after acquiring an additional 180,500 shares during the period. BNP Paribas Financial Markets grew its position in Monolithic Power Systems by 95.1% during the first quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock valued at $206,712,000 after buying an additional 148,771 shares during the period. Finally, Vanguard Group Inc. grew its position in Monolithic Power Systems by 2.4% during the third quarter. Vanguard Group Inc. now owns 5,373,477 shares of the semiconductor company’s stock valued at $2,482,546,000 after buying an additional 123,946 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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.