Monolithic Power Systems (NASDAQ:MPWR) Stock Rating Upgraded by TD Cowen

Monolithic Power Systems (NASDAQ:MPWR) was upgraded by TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

Several other equities research analysts also recently issued reports on MPWR. Raymond James lifted their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp boosted their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on Monolithic Power Systems from $799.00 to $918.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC upped their target price on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $912.30.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR opened at $885.23 on Monday. Monolithic Power Systems has a 1-year low of $392.10 and a 1-year high of $959.64. The company has a market capitalization of $43.15 billion, a price-to-earnings ratio of 105.51, a PEG ratio of 4.14 and a beta of 1.12. The business has a 50-day moving average of $859.32 and a 200-day moving average of $772.75.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. Monolithic Power Systems’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. Research analysts expect that Monolithic Power Systems will post 10.41 EPS for the current fiscal year.

Insider Buying and Selling at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the transaction, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the transaction, the chief financial officer now owns 61,678 shares of the company’s stock, valued at $55,769,247.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Hsing sold 2,672 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $804.57, for a total value of $2,149,811.04. Following the completion of the transaction, the chief executive officer now owns 877,736 shares of the company’s stock, valued at $706,200,053.52. The disclosure for this sale can be found here. Insiders sold a total of 98,299 shares of company stock worth $83,140,933 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Monolithic Power Systems by 19.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock worth $37,583,000 after acquiring an additional 9,125 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Monolithic Power Systems in the fourth quarter valued at approximately $1,899,000. Cim LLC bought a new stake in shares of Monolithic Power Systems during the fourth quarter valued at approximately $2,197,000. Cetera Investment Advisers boosted its position in shares of Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after buying an additional 4,760 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Monolithic Power Systems by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after buying an additional 5,335 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.