Wells Fargo & Company Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $725.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective raised by equities research analysts at Wells Fargo & Company from $715.00 to $725.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.78% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Oppenheimer increased their price target on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. TD Cowen increased their price target on Monolithic Power Systems from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $800.00 price target on shares of Monolithic Power Systems in a report on Thursday. Finally, KeyCorp increased their price target on Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $716.90.

Monolithic Power Systems Price Performance

Shares of MPWR stock traded up $39.34 during trading hours on Thursday, hitting $691.93. The stock had a trading volume of 295,888 shares, compared to its average volume of 534,601. The firm has a market capitalization of $33.68 billion, a PE ratio of 78.75, a PEG ratio of 3.58 and a beta of 1.21. Monolithic Power Systems has a twelve month low of $383.19 and a twelve month high of $778.15. The stock’s 50 day moving average is $679.69 and its 200 day moving average is $613.10.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a net margin of 23.47% and a return on equity of 22.66%. The firm had revenue of $454.01 million during the quarter, compared to analyst estimates of $452.13 million. As a group, equities analysts predict that Monolithic Power Systems will post 10.05 earnings per share for the current year.

Insider Buying and Selling at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $681.83, for a total value of $7,500,130.00. Following the completion of the transaction, the executive vice president now owns 130,744 shares in the company, valued at $89,145,181.52. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jeff Zhou sold 200 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $750.57, for a total value of $150,114.00. Following the completion of the transaction, the director now owns 6,269 shares in the company, valued at $4,705,323.33. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $681.83, for a total value of $7,500,130.00. Following the completion of the transaction, the executive vice president now owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,577 shares of company stock valued at $24,033,249. 3.20% of the stock is owned by company insiders.

Institutional Trading of Monolithic Power Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPWR. Commonwealth Equity Services LLC increased its position in Monolithic Power Systems by 6.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,851 shares of the semiconductor company’s stock worth $1,317,000 after purchasing an additional 165 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Monolithic Power Systems by 14.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 5,498 shares of the semiconductor company’s stock worth $2,540,000 after purchasing an additional 700 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in Monolithic Power Systems by 3.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 26,856 shares of the semiconductor company’s stock worth $12,407,000 after purchasing an additional 939 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Monolithic Power Systems by 1.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,723 shares of the semiconductor company’s stock worth $7,264,000 after purchasing an additional 174 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Monolithic Power Systems by 4.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,635 shares of the semiconductor company’s stock worth $3,989,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors 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.