Monolithic Power Systems (NASDAQ:MPWR) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a note issued to investors on Friday, MarketBeat reports. The firm set an “equal weight” rating and a $610.00 price target on the semiconductor company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.03% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Raymond James increased their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $900.00 target price on shares of Monolithic Power Systems in a research note on Monday, November 11th. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a research note on Monday, November 18th. KeyCorp dropped their price objective on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $950.00 target price on shares of Monolithic Power Systems in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $840.36.

Monolithic Power Systems Stock Up 1.5 %

Shares of MPWR opened at $580.81 on Friday. The business has a fifty day moving average of $826.30 and a 200 day moving average of $821.87. The company has a market cap of $28.33 billion, a PE ratio of 65.48, a P/E/G ratio of 2.73 and a beta of 1.15. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64.

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

Insiders Place Their Bets

In related news, EVP Deming Xiao sold 866 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 of the company’s stock, valued at $124,135,548.46. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $908.36, for a total value of $2,270,900.00. Following the sale, the chief financial officer now directly owns 59,178 shares of the company’s stock, valued at approximately $53,754,928.08. This represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,359 shares of company stock valued at $26,709,571. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of MPWR. Family Firm Inc. purchased a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at $25,000. NBC Securities Inc. grew its position in Monolithic Power Systems by 433.3% during the 3rd quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Monolithic Power Systems by 3,400.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Monolithic Power Systems in the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC boosted its stake in shares of Monolithic Power Systems by 126.3% in the second quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock worth $35,000 after buying an additional 24 shares during 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 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.