Needham & Company LLC Lowers Monolithic Power Systems (NASDAQ:MPWR) Price Target to $950.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective dropped by Needham & Company LLC from $1,000.00 to $950.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 3.28% from the stock’s current price.

MPWR has been the topic of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $880.00 target price on shares of Monolithic Power Systems in a report on Tuesday. Raymond James boosted their target price on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial restated a “buy” rating and issued a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. KeyCorp boosted their price objective on shares of 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. Finally, TD Cowen cut their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research note on Thursday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $942.40.

Monolithic Power Systems Price Performance

Shares of MPWR stock opened at $919.81 on Thursday. The firm’s 50-day simple moving average is $904.13 and its 200-day simple moving average is $821.37. Monolithic Power Systems has a 1-year low of $409.05 and a 1-year high of $959.64. The firm has a market cap of $44.78 billion, a P/E ratio of 109.63, a PEG ratio of 4.17 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last posted 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. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The company had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. During the same quarter last year, the firm posted $2.05 earnings per share. Monolithic Power Systems’s revenue was up 15.0% on a year-over-year basis. Analysts expect that Monolithic Power Systems will post 10.41 earnings per share for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 11,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the transaction, the executive vice president now owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Theodore Blegen sold 728 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $566,667.92. Following the completion of the sale, the chief financial officer now directly owns 64,178 shares in the company, valued at approximately $49,955,513.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the transaction, the executive vice president now owns 103,829 shares in the company, valued at $96,518,400.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,636 shares of company stock valued at $36,459,953. Insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of MPWR. Family Firm Inc. bought a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at about $25,000. RiverPark Advisors LLC acquired a new position in Monolithic Power Systems in the first quarter valued at approximately $27,000. NBC Securities Inc. grew its holdings in shares of Monolithic Power Systems by 433.3% during the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Wolff Wiese Magana LLC raised its position 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 worth $32,000 after purchasing an additional 34 shares during the period. Finally, Atwood & Palmer Inc. bought a new stake in shares of Monolithic Power Systems in the 2nd quarter worth approximately $33,000. 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.