Needham & Company LLC Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $800.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target hoisted by investment analysts at Needham & Company LLC from $600.00 to $800.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 21.05% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. TD Cowen decreased 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 report on Thursday, October 31st. Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a report on Monday, November 18th. Citigroup began coverage on shares of Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 target price on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $880.00 target price on shares of Monolithic Power Systems in a report on Thursday. Finally, Wells Fargo & Company began coverage on shares of Monolithic Power Systems in a report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $837.00.

Monolithic Power Systems Trading Up 1.1 %

Shares of NASDAQ MPWR opened at $660.90 on Friday. Monolithic Power Systems has a 12-month low of $546.71 and a 12-month high of $959.64. The stock has a market cap of $32.24 billion, a PE ratio of 74.51, a P/E/G ratio of 2.44 and a beta of 1.03. The company has a 50-day moving average of $613.54 and a 200 day moving average of $756.52.

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

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. This represents a 4.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several large investors have recently added to or reduced their stakes in MPWR. FMR LLC increased its stake in Monolithic Power Systems by 11.4% during the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after buying an additional 361,416 shares during the period. Van ECK Associates Corp increased its position in shares of Monolithic Power Systems by 73.3% in the 4th quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after purchasing an additional 328,203 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Monolithic Power Systems in the 4th quarter valued at approximately $140,795,000. Geode Capital Management LLC increased its position in shares of Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after purchasing an additional 133,838 shares during the last quarter. Finally, International Assets Investment Management LLC increased 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 purchasing an additional 123,481 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.