Monolithic Power Systems (NASDAQ:MPWR) Raised to Buy at Wall Street Zen

Monolithic Power Systems (NASDAQ:MPWR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Truist Financial boosted their price target on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $1,575.00 price objective on shares of Monolithic Power Systems in a research note on Friday, July 31st. KeyCorp boosted their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Arete Research set a $2,013.00 target price on shares of Monolithic Power Systems and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Needham & Company LLC raised their target price on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,731.42.

Monolithic Power Systems Price Performance

Shares of MPWR opened at $1,439.73 on Friday. Monolithic Power Systems has a 12 month low of $833.18 and a 12 month high of $1,714.09. The stock has a fifty day moving average price of $1,302.39 and a 200 day moving average price of $1,374.50. The company has a market cap of $70.75 billion, a P/E ratio of 88.27 and a beta of 1.68.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, beating the consensus estimate of $5.87 by $0.63. The company had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. Monolithic Power Systems’s revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.21 earnings per share. As a group, research analysts anticipate that Monolithic Power Systems will post 23.35 earnings per share for the current year.

Insider Activity at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 30 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the transaction, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the transaction, the director directly owned 515 shares in the company, valued at $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 130 shares of company stock worth $175,397. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Monolithic Power Systems by 2.2% during the third quarter. Versant Capital Management Inc now owns 693 shares of the semiconductor company’s stock worth $934,000 after buying an additional 15 shares in the last quarter. Burkett Financial Services LLC acquired a new position in Monolithic Power Systems in the 3rd quarter valued at approximately $70,000. Andra AP fonden lifted its position in shares of Monolithic Power Systems by 134.3% in the 2nd quarter. Andra AP fonden now owns 785 shares of the semiconductor company’s stock worth $1,085,000 after acquiring an additional 450 shares during the period. State Street Corp increased its stake in Monolithic Power Systems by 4.3% in the second quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock valued at $3,159,219,000 after acquiring an additional 93,732 shares during the period. Finally, Anchor Investment Management LLC raised its position in Monolithic Power Systems by 160.0% in the second quarter. Anchor Investment Management LLC now owns 65 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company’s product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.