Wells Fargo & Company Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $730.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective boosted by stock analysts at Wells Fargo & Company from $695.00 to $730.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.30% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup boosted their price target on shares of Monolithic Power Systems from $700.00 to $785.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $720.00 target price (down from $925.00) on shares of Monolithic Power Systems in a report on Friday, May 2nd. Oppenheimer restated an “outperform” rating and set a $800.00 target price (up previously from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday. KeyCorp raised their price target on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $800.00 price target on shares of Monolithic Power Systems in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Monolithic Power Systems currently has an average rating of “Moderate Buy” and an average price target of $802.33.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $713.57 on Wednesday. The company has a market capitalization of $34.17 billion, a PE ratio of 18.94, a P/E/G ratio of 2.83 and a beta of 1.20. Monolithic Power Systems has a 1-year low of $438.86 and a 1-year high of $959.64. The business has a 50-day moving average of $708.41 and a 200-day moving average of $640.98.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The company had revenue of $637.55 million for the quarter, compared to analysts’ expectations of $633.43 million. During the same quarter in the prior year, the company earned $2.81 earnings per share. The firm’s revenue was up 39.2% on a year-over-year basis. On average, equities analysts expect that Monolithic Power Systems will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total value of $8,412,000.00. Following the transaction, the executive vice president owned 4,015 shares in the company, valued at approximately $2,814,515. This represents a 74.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the chief financial officer owned 46,939 shares in the company, valued at approximately $35,204,250. This trade represents a 11.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock worth $13,046,800 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds have recently bought and sold shares of the stock. WPG Advisers LLC purchased a new position in shares of Monolithic Power Systems during the 1st quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Monolithic Power Systems in the 4th quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter worth about $36,000. SouthState Corp acquired a new stake in shares of Monolithic Power Systems during the 1st quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in Monolithic Power Systems by 637.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 51 shares during the period. 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.