Monolithic Power Systems (NASDAQ:MPWR) PT Raised to $799.00 at Truist Financial

Monolithic Power Systems (NASDAQ:MPWR) had its price objective upped by investment analysts at Truist Financial from $789.00 to $799.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price suggests a potential upside of 18.55% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer upped their target price 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. TD Cowen increased their target price on Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. KeyCorp boosted their target price on Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $716.90.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR traded up $21.40 during midday trading on Thursday, hitting $673.99. The stock had a trading volume of 219,552 shares, compared to its average volume of 533,740. The company’s 50-day simple moving average is $679.69 and its 200 day simple moving average is $613.10. The firm has a market cap of $32.80 billion, a P/E ratio of 76.94, a price-to-earnings-growth ratio of 3.58 and a beta of 1.21. Monolithic Power Systems has a fifty-two week low of $383.19 and a fifty-two week high of $778.15.

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

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 728 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $680.00, for a total transaction of $495,040.00. Following the completion of the transaction, the chief financial officer now owns 83,173 shares of the company’s stock, valued at approximately $56,557,640. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $680.00, for a total value of $584,120.00. Following the sale, the insider now owns 208,580 shares of the company’s stock, valued at $141,834,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Theodore Blegen sold 728 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total value of $495,040.00. Following the transaction, the chief financial officer now directly owns 83,173 shares of the company’s stock, valued at $56,557,640. The disclosure for this sale can be found here. Insiders have sold 34,577 shares of company stock valued at $24,033,249 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in Monolithic Power Systems during the first quarter worth $31,000. Arlington Trust Co LLC raised its holdings in shares of Monolithic Power Systems by 56.1% in the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 23 shares during the period. Operose Advisors LLC acquired a new stake in Monolithic Power Systems in the 3rd quarter valued at about $43,000. Turtle Creek Wealth Advisors LLC bought a new position in Monolithic Power Systems during the fourth quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC increased its position in Monolithic Power Systems by 23.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock worth $50,000 after buying an additional 15 shares during the last quarter. 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.