KeyCorp Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $1,075.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target increased by analysts at KeyCorp from $975.00 to $1,075.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target suggests a potential upside of 35.09% from the company’s previous close.

Several other research firms also recently commented on MPWR. Truist Financial upped their price objective on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a “buy” rating in a report on Friday. Rosenblatt Securities upped their price objective on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer boosted their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $862.30.

Monolithic Power Systems Trading Up 1.4 %

NASDAQ:MPWR opened at $795.76 on Friday. The company has a market cap of $38.74 billion, a PE ratio of 94.85, a P/E/G ratio of 3.92 and a beta of 1.11. Monolithic Power Systems has a twelve month low of $392.10 and a twelve month high of $891.67. The company’s 50 day moving average is $810.38 and its two-hundred day moving average is $728.22.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.10. The company had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. Monolithic Power Systems’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, analysts expect that Monolithic Power Systems will post 10.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Saria Tseng sold 869 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $690.02, for a total transaction of $599,627.38. Following the completion of the transaction, the executive vice president now directly owns 203,521 shares in the company, valued at $140,433,560.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Saria Tseng sold 869 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $690.02, for a total transaction of $599,627.38. Following the completion of the sale, the executive vice president now owns 203,521 shares of the company’s stock, valued at $140,433,560.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deming Xiao sold 1,300 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $769.40, for a total transaction of $1,000,220.00. Following the sale, the executive vice president now directly owns 206,418 shares of the company’s stock, valued at approximately $158,818,009.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,709 shares of company stock worth $71,147,068. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

A number of large investors have recently modified their holdings of MPWR. Family Firm Inc. purchased a new stake in shares of Monolithic Power Systems in the second quarter valued at about $25,000. RiverPark Advisors LLC purchased a new stake in shares of Monolithic Power Systems in the first quarter valued at about $27,000. OFI Invest Asset Management purchased a new stake in shares of Monolithic Power Systems in the first quarter valued at about $31,000. Atwood & Palmer Inc. purchased a new stake in shares of Monolithic Power Systems in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC grew its holdings 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 valued at $35,000 after purchasing an additional 24 shares during the period. Hedge funds and other 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.