Monolithic Power Systems (NASDAQ:MPWR) Given Buy Rating at Needham & Company LLC

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

Several other analysts also recently commented on MPWR. Oppenheimer raised their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. KeyCorp raised their target price on Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, TD Cowen raised 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has an average rating of “Moderate Buy” and a consensus price target of $670.30.

Monolithic Power Systems Stock Down 2.5 %

Shares of NASDAQ:MPWR opened at $652.59 on Thursday. The firm has a market cap of $31.76 billion, a P/E ratio of 74.50, a P/E/G ratio of 3.58 and a beta of 1.21. Monolithic Power Systems has a 12-month low of $383.19 and a 12-month high of $778.15. The business has a fifty day simple moving average of $679.69 and a 200 day simple moving average of $613.10.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $452.13 million. As a group, equities research analysts expect that Monolithic Power Systems will post 10.05 EPS for the current year.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $750.57, for a total transaction of $150,114.00. Following the transaction, the director now owns 6,269 shares of the company’s stock, valued at approximately $4,705,323.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $750.57, for a total transaction of $150,114.00. Following the transaction, the director now owns 6,269 shares of the company’s stock, valued at approximately $4,705,323.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Deming Xiao sold 859 shares of Monolithic Power Systems 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 $584,120.00. Following the completion of the sale, the insider now directly owns 208,580 shares in the company, valued at approximately $141,834,400. The disclosure for this sale can be found here. Insiders have sold a total of 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 corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of hedge funds have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft grew its position in shares of Monolithic Power Systems by 0.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 1,831 shares of the semiconductor company’s stock valued at $1,153,000 after purchasing an additional 14 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Monolithic Power Systems by 23.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 15 shares in the last quarter. American National Bank grew its position in Monolithic Power Systems by 1.5% in the fourth quarter. American National Bank now owns 1,060 shares of the semiconductor company’s stock worth $669,000 after acquiring an additional 16 shares in the last quarter. HB Wealth Management LLC grew its position in Monolithic Power Systems by 2.0% in the first quarter. HB Wealth Management LLC now owns 799 shares of the semiconductor company’s stock worth $541,000 after acquiring an additional 16 shares in the last quarter. Finally, Arlington Capital Management Inc. grew its position in Monolithic Power Systems by 1.4% in the first quarter. Arlington Capital Management Inc. now owns 1,301 shares of the semiconductor company’s stock worth $881,000 after acquiring an additional 18 shares in 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.