Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $800.00 by Analysts at Oppenheimer

Monolithic Power Systems (NASDAQ:MPWR) had its price objective cut by equities researchers at Oppenheimer from $900.00 to $800.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 22.84% from the stock’s current price.

MPWR has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on Monolithic Power Systems in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 target price on the stock. Citigroup assumed coverage on shares of Monolithic Power Systems in a research note on Wednesday, December 11th. They issued a “buy” rating and a $700.00 target price on the stock. KeyCorp cut their price target on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Rosenblatt Securities cut shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, TD Cowen cut their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $820.33.

Monolithic Power Systems Trading Up 2.3 %

Shares of MPWR stock traded up $14.49 during trading hours on Friday, reaching $651.27. The stock had a trading volume of 321,168 shares, compared to its average volume of 827,480. The stock’s fifty day simple moving average is $608.30 and its 200 day simple moving average is $762.75. The firm has a market capitalization of $31.77 billion, a PE ratio of 73.76, a PEG ratio of 2.37 and a beta of 1.03. Monolithic Power Systems has a 12 month low of $546.71 and a 12 month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The firm had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. As a group, equities research analysts anticipate that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 734 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.15, for a total value of $561,620.10. Following the completion of the sale, the chief financial officer now owns 55,944 shares in the company, valued at approximately $42,805,551.60. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deming Xiao sold 866 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the transaction, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,100 shares of company stock worth $2,724,231 in the last three months. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after buying an additional 361,416 shares during the period. State Street Corp raised its position in shares of Monolithic Power Systems by 2.1% in the 3rd quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock worth $1,930,301,000 after acquiring an additional 42,678 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after purchasing an additional 133,838 shares during the period. Van ECK Associates Corp boosted its position in shares of Monolithic Power Systems by 73.3% during the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after purchasing an additional 328,203 shares in the last quarter. Finally, Barclays PLC grew its stake in Monolithic Power Systems by 5.0% in the third quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after purchasing an additional 15,350 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.