TD Cowen Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $975.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective cut by equities researchers at TD Cowen from $1,100.00 to $975.00 in a report released on Thursday, FinViz reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target suggests a potential upside of 6.00% from the company’s current price.

A number of other research firms also recently issued reports on MPWR. Truist Financial restated a “buy” rating and set a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Needham & Company LLC increased their target price on shares of Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Rosenblatt Securities reiterated a “buy” rating and set a $880.00 target price on shares of Monolithic Power Systems in a research report on Tuesday. Raymond James increased their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, KeyCorp increased their target price on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Monolithic Power Systems has a consensus rating of “Buy” and a consensus target price of $947.40.

Monolithic Power Systems Stock Performance

NASDAQ MPWR opened at $919.81 on Thursday. Monolithic Power Systems has a 52-week low of $409.05 and a 52-week high of $959.64. The company has a 50-day simple moving average of $904.13 and a 200 day simple moving average of $821.37. The company has a market capitalization of $44.78 billion, a PE ratio of 109.63, a price-to-earnings-growth ratio of 4.17 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The business had revenue of $507.40 million during the quarter, compared to the consensus estimate of $490.66 million. During the same quarter last year, the company posted $2.05 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Monolithic Power Systems will post 10.41 EPS for the current fiscal year.

Insider Activity at Monolithic Power Systems

In related news, EVP Deming Xiao sold 859 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $668,637.01. Following the sale, the executive vice president now directly owns 202,354 shares of the company’s stock, valued at $157,510,330.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $668,637.01. Following the transaction, the executive vice president now directly owns 202,354 shares in the company, valued at $157,510,330.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,636 shares of company stock valued at $36,459,953 over the last three months. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Monolithic Power Systems by 7.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,681 shares of the semiconductor company’s stock worth $1,816,000 after buying an additional 187 shares during the period. Diversified Trust Co purchased a new position in shares of Monolithic Power Systems in the first quarter worth $474,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Monolithic Power Systems by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after buying an additional 5,335 shares during the period. Advisor Resource Council purchased a new position in shares of Monolithic Power Systems in the first quarter worth $241,000. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Monolithic Power Systems by 11.4% in the first quarter. First Trust Direct Indexing L.P. now owns 1,375 shares of the semiconductor company’s stock worth $932,000 after buying an additional 141 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.