Monolithic Power Systems (NASDAQ:MPWR) Given New $710.00 Price Target at Wells Fargo & Company

Monolithic Power Systems (NASDAQ:MPWR) had its target price upped by research analysts at Wells Fargo & Company from $610.00 to $710.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.51% from the company’s current price.

A number of other analysts also recently issued reports on MPWR. TD Cowen decreased their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer decreased their price target on shares of Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC raised their price objective on Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $880.00 price objective on shares of Monolithic Power Systems in a research note on Thursday. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average price target of $857.83.

Monolithic Power Systems Stock Performance

Shares of MPWR stock traded up $31.74 during trading hours on Friday, hitting $692.64. 566,356 shares of the company were exchanged, compared to its average volume of 872,154. Monolithic Power Systems has a fifty-two week low of $546.71 and a fifty-two week high of $959.64. The firm has a market cap of $33.79 billion, a P/E ratio of 78.40, a P/E/G ratio of 2.44 and a beta of 1.03. The company has a 50 day simple moving average of $613.54 and a two-hundred day simple moving average of $756.52.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. As a group, sell-side analysts expect that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the transaction, the chief financial officer now owns 53,444 shares in the company, valued at $32,066,400. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MPWR. Assetmark Inc. boosted its stake in shares of Monolithic Power Systems by 6.6% in the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after acquiring an additional 1,082 shares during the last quarter. EULAV Asset Management increased its holdings in Monolithic Power Systems by 8.6% in the 3rd quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock valued at $100,099,000 after purchasing an additional 8,600 shares during the last quarter. Paragon Advisors LLC raised its holdings in shares of Monolithic Power Systems by 140.6% in the 4th quarter. Paragon Advisors LLC now owns 5,128 shares of the semiconductor company’s stock valued at $3,034,000 after buying an additional 2,997 shares during the period. Empowered Funds LLC lifted its position in shares of Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock worth $3,741,000 after purchasing an additional 909 shares in the last quarter. Finally, Perpetual Ltd boosted its position in Monolithic Power Systems by 1,042.4% in the 4th quarter. Perpetual Ltd now owns 2,936 shares of the semiconductor company’s stock valued at $1,737,000 after buying an additional 2,679 shares during the period. Institutional investors and hedge funds 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.