Monolithic Power Systems (NASDAQ:MPWR) Given New $600.00 Price Target at Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWR) had its price objective lowered by investment analysts at Needham & Company LLC from $950.00 to $600.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 6.00% from the stock’s previous close.

MPWR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their target price on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. TD Cowen cut their price objective 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. Finally, Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.36.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $566.04 on Friday. The firm has a market cap of $27.61 billion, a PE ratio of 63.82, a P/E/G ratio of 2.79 and a beta of 1.15. The business’s 50 day simple moving average is $839.56 and its 200 day simple moving average is $824.73. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The business had revenue of $620.12 million during the quarter, compared to analyst estimates of $600.10 million. As a group, equities research analysts predict that Monolithic Power Systems will post 10.46 EPS for the current year.

Insider Activity at Monolithic Power Systems

In related news, EVP Deming Xiao sold 9,259 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total value of $8,796,050.00. Following the transaction, the executive vice president now owns 20,455 shares in the company, valued at approximately $19,432,250. This trade represents a 31.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 103,829 shares of the company’s stock, valued at $96,518,400.11. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,359 shares of company stock worth $26,709,571. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MPWR. FMR LLC lifted its stake in Monolithic Power Systems by 11.4% in the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after purchasing an additional 361,416 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Monolithic Power Systems by 311.8% during the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock valued at $153,319,000 after purchasing an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Monolithic Power Systems by 1,947.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock worth $117,826,000 after buying an additional 136,391 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Monolithic Power Systems by 11.2% during the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after purchasing an additional 133,838 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock valued at $114,281,000 after buying an additional 123,481 shares during the last quarter. Institutional investors and hedge funds 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.