Oppenheimer Reaffirms Outperform Rating for Monolithic Power Systems (NASDAQ:MPWR)

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a research report issued on Monday,Benzinga reports. They presently have a $900.00 price target on the semiconductor company’s stock. Oppenheimer’s price target suggests a potential upside of 39.73% from the stock’s current price.

MPWR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 2nd. KeyCorp boosted their price target on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $950.00 price objective 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. Finally, Truist Financial restated a “buy” rating and set a $994.00 price target (up from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned 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 $916.73.

Monolithic Power Systems Stock Performance

NASDAQ MPWR opened at $644.10 on Monday. Monolithic Power Systems has a twelve month low of $500.54 and a twelve month high of $959.64. The stock has a market cap of $31.42 billion, a PE ratio of 72.62, a PEG ratio of 3.62 and a beta of 1.15. The firm has a 50-day simple moving average of $871.40 and a 200 day simple moving average of $830.09.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 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 firm had revenue of $620.12 million during the quarter, compared to analyst estimates of $600.10 million. Research analysts forecast that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Insider Activity

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the completion of the transaction, the chief financial officer now owns 56,678 shares in the company, valued at approximately $43,809,826.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the completion of the transaction, the chief financial officer now directly owns 56,678 shares of the company’s stock, valued at approximately $43,809,826.88. This 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. Also, EVP Deming Xiao sold 9,259 shares of the business’s stock in a transaction that occurred 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 directly owns 20,455 shares in the company, valued at $19,432,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,759 shares of company stock worth $34,985,340 over the last quarter. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in 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 worth $153,319,000 after acquiring an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Monolithic Power Systems by 1,947.1% in the second quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock valued at $117,826,000 after purchasing an additional 136,391 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Monolithic Power Systems by 92,842.9% during the third quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after purchasing an additional 123,481 shares during the period. Jennison Associates LLC lifted its holdings in Monolithic Power Systems by 14,315.6% during the 3rd quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company’s stock worth $94,223,000 after purchasing an additional 101,211 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after purchasing an additional 93,362 shares during the period. 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.