Citigroup Issues Positive Forecast for Monolithic Power Systems (NASDAQ:MPWR) Stock Price

Monolithic Power Systems (NASDAQ:MPWR) had its price objective upped by Citigroup from $700.00 to $785.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on MPWR. Oppenheimer reaffirmed an “outperform” rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research report on Friday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Rosenblatt Securities restated a “neutral” rating and issued a $644.00 price objective on shares of Monolithic Power Systems in a report on Friday, May 2nd. Stifel Nicolaus dropped their target price on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Loop Capital boosted their target price on Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, February 7th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $786.92.

Monolithic Power Systems Stock Performance

MPWR stock opened at $694.75 on Wednesday. Monolithic Power Systems has a one year low of $438.86 and a one year high of $959.64. The firm has a market cap of $33.26 billion, a PE ratio of 18.89, a PEG ratio of 2.60 and a beta of 1.18. The firm’s 50 day moving average price is $604.96 and its 200-day moving average price is $613.89.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. The company had revenue of $637.55 million during the quarter, compared to analysts’ expectations of $633.43 million. During the same quarter last year, the firm earned $2.81 earnings per share. The firm’s quarterly revenue was up 39.2% compared to the same quarter last year. Equities research analysts predict that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Maurice Sciammas sold 12,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,015 shares of the company’s stock, valued at approximately $2,814,515. The trade was a 74.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kuo Wei Herbert Chang sold 100 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director now owns 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock worth $8,546,800 in the last ninety days. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Monolithic Power Systems

Hedge funds have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC increased its position in shares of Monolithic Power Systems by 120.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 24 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Monolithic Power Systems during the first quarter worth $27,000. OFI Invest Asset Management purchased a new position in Monolithic Power Systems in the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new position in Monolithic Power Systems in the fourth quarter valued at $29,000. Finally, SouthState Corp acquired a new stake in Monolithic Power Systems in the first quarter valued at $33,000. 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.