Monolithic Power Systems (NASDAQ:MPWR) Stock Bumped Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Monolithic Power Systems from “hold” to “buy,” contributing to a broader consensus “Moderate Buy” rating from analysts.
• Analysts’ average price target is $1,692.64, although several firms recently lowered their targets; the stock opened at $1,140.12 and remains well below its 52-week high of $1,714.09.
• The company reported strong quarterly results, with EPS of $6.50 and revenue of $980.64 million, beating expectations and marking 47.6% year-over-year revenue growth. Insiders sold $175,397 of stock over the past 90 days.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently commented on MPWR. Oppenheimer dropped their price objective on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an "outperform" rating on the stock in a report on Friday. TD Cowen reduced their target price on shares of Monolithic Power Systems from $1,850.00 to $1,700.00 and set a "buy" rating for the company in a research note on Monday, October 19th. KeyCorp lifted their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Arete Research began coverage on shares of Monolithic Power Systems in a research report on Thursday, August 20th. They issued a "buy" rating and a $2,013.00 price target on the stock. Finally, Truist Financial upped their price target on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,692.64.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $1,140.12 on Friday. The company has a market capitalization of $56.03 billion, a P/E ratio of 69.90 and a beta of 1.68. The business has a fifty day simple moving average of $1,286.36 and a two-hundred day simple moving average of $1,395.71. Monolithic Power Systems has a 1 year low of $833.18 and a 1 year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, beating analysts' consensus estimates of $5.87 by $0.63. The firm had revenue of $980.64 million for the quarter, compared to analysts' expectations of $903.30 million. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%. The business's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.21 EPS. As a group, analysts anticipate that Monolithic Power Systems will post 23.95 earnings per share for the current year.

Insider Activity

In related news, EVP Maurice Sciammas sold 30 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the transaction, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the transaction, the director owned 515 shares in the company, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 130 shares of company stock worth $175,397. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Transamerica Financial Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at $35,000. Danske Bank A S bought a new stake in shares of Monolithic Power Systems during the 2nd quarter worth $36,000. Continuum Advisory LLC purchased a new position in Monolithic Power Systems in the second quarter worth $43,000. GK Wealth Management LLC purchased a new position in Monolithic Power Systems in the third quarter worth $43,000. Finally, NBH Bank purchased a new position in Monolithic Power Systems in the second quarter worth $54,000. Hedge funds and other institutional investors own 93.46% of the company's stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc NASDAQ: MPWR is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help regulate, convert, distribute and control electrical power in electronic systems, supporting applications that require efficient and reliable power delivery.

The company's portfolio includes integrated circuits, power modules, battery-management products, motor drivers, LED drivers and related analog and mixed-signal semiconductor solutions.

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