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

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $800.00 target price on the semiconductor company’s stock, up from their prior target price of $700.00. Oppenheimer’s price target would suggest a potential upside of 12.04% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on Monolithic Power Systems from $1,100.00 to $880.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an “outperform” rating and set a $720.00 price objective (down previously from $925.00) on shares of Monolithic Power Systems in a research report on Friday, May 2nd. TD Cowen upped their target price on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, KeyCorp raised their price target on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $802.33.

Monolithic Power Systems Price Performance

MPWR opened at $714.03 on Tuesday. The stock has a market cap of $34.19 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.85 and a beta of 1.20. The stock’s 50 day simple moving average is $706.91 and its 200 day simple moving average is $640.22. Monolithic Power Systems has a 1-year low of $438.86 and a 1-year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, topping the consensus estimate of $4.00 by $0.04. The business had revenue of $637.55 million for the quarter, compared to analyst estimates of $633.43 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The business’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.81 EPS. Research analysts expect that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In related news, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction on Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the transaction, the director owned 676 shares in the company, valued at approximately $471,848. This trade represents a 12.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maurice Sciammas sold 12,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $701.00, for a total value of $8,412,000.00. Following the sale, the executive vice president owned 4,015 shares of the company’s stock, valued at $2,814,515. This represents a 74.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,200 shares of company stock worth $13,046,800 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Monolithic Power Systems by 46.0% in the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company’s stock worth $376,000 after buying an additional 200 shares during the period. AlphaQuest LLC acquired a new position in Monolithic Power Systems during the 4th quarter worth approximately $41,000. Independent Advisor Alliance boosted its holdings in Monolithic Power Systems by 131.4% in the 4th quarter. Independent Advisor Alliance now owns 546 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 310 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Monolithic Power Systems by 0.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,200 shares of the semiconductor company’s stock worth $1,893,000 after acquiring an additional 14 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Monolithic Power Systems in the fourth quarter valued at approximately $3,101,000. Hedge funds and other 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.