Monolithic Power Systems (NASDAQ:MPWR) Given New $750.00 Price Target at Wells Fargo & Company

Key Points

• Monolithic Power Systems' price target has been raised by Wells Fargo & Company from $730.00 to $750.00, indicating a potential downside of 2.69% from its last close.
• The company recently reported a 31.0% year-over-year increase in revenue, totaling $664.57 million for the quarter, along with an EPS of $4.21, which surpassed estimates.
• Insider trading activity has seen executives sell a combined total of $13 million worth of shares in the past three months, with ownership by insiders now at 3.40% of the stock.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) had its price objective boosted by analysts at Wells Fargo & Company from $730.00 to $750.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's price objective points to a potential downside of 2.69% from the stock's previous close.

A number of other equities research analysts also recently issued reports on MPWR. Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $800.00 to $820.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus dropped their price objective 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. Rosenblatt Securities reiterated a "neutral" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a report on Friday. KeyCorp raised their price target on shares of Monolithic Power Systems from $940.00 to $950.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Loop Capital raised their price objective on shares of Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $835.75.

Monolithic Power Systems Price Performance

NASDAQ MPWR traded up $59.47 on Friday, hitting $770.71. 584,814 shares of the stock were exchanged, compared to its average volume of 814,018. The business's fifty day moving average is $712.10 and its 200 day moving average is $648.04. Monolithic Power Systems has a 52 week low of $438.86 and a 52 week high of $959.64. The company has a market capitalization of $36.90 billion, a PE ratio of 20.39, a P/E/G ratio of 2.90 and a beta of 1.20.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 EPS for the quarter, beating the consensus estimate of $4.12 by $0.09. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The firm had revenue of $664.57 million for the quarter, compared to the consensus estimate of $648.74 million. During the same period in the previous year, the company earned $3.17 earnings per share. The company's quarterly revenue was up 31.0% on a year-over-year basis. Analysts predict that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 12,000 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president owned 4,015 shares of the company's stock, valued at approximately $2,814,515. The trade was a 74.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 6,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $750.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief financial officer owned 46,939 shares of the company's stock, valued at approximately $35,204,250. This trade represents a 11.33% 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 three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Monolithic Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Monolithic Power Systems by 76,432.3% in the first quarter. GAMMA Investing LLC now owns 778,333 shares of the semiconductor company's stock valued at $451,418,000 after acquiring an additional 777,316 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Monolithic Power Systems by 33.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,034,731 shares of the semiconductor company's stock valued at $1,180,104,000 after purchasing an additional 506,430 shares during the period. Siemens Fonds Invest GmbH grew its holdings in shares of Monolithic Power Systems by 18,567.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 200,487 shares of the semiconductor company's stock valued at $118,628,000 after acquiring an additional 199,413 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Monolithic Power Systems during the 4th quarter valued at $113,547,000. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Monolithic Power Systems by 121.7% during the 4th quarter. Ensign Peak Advisors Inc now owns 337,078 shares of the semiconductor company's stock valued at $199,449,000 after acquiring an additional 185,002 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.

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