Monolithic Power Systems (NASDAQ:MPWR) Given New $825.00 Price Target at Citigroup

Key Points

• Citigroup has raised its price target for Monolithic Power Systems from $785.00 to $825.00, maintaining a "buy" rating despite indicating a potential downside of 0.81% from the current price.
• The company's quarterly earnings report showed an EPS of $4.21, surpassing estimates, and a net margin of 73.17%, highlighting strong financial performance.
• Shares of Monolithic Power Systems have seen a price increase, trading at $831.73, with analysts recommending a consensus rating of "Moderate Buy" and an average price target of $838.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) had its price target lifted by research analysts at Citigroup from $785.00 to $825.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Citigroup's price objective indicates a potential downside of 0.81% from the company's current price.

MPWR has been the subject of several other reports. TD Cowen boosted their target price on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Rosenblatt Securities restated a "neutral" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a report on Friday. Needham & Company LLC upped their price target on Monolithic Power Systems from $800.00 to $820.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company increased their price target on Monolithic Power Systems from $730.00 to $750.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $800.00 price objective (up from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $838.09.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock traded up $46.11 during mid-day trading on Monday, reaching $831.73. The stock had a trading volume of 705,365 shares, compared to its average volume of 820,012. Monolithic Power Systems has a fifty-two week low of $438.86 and a fifty-two week high of $959.64. The stock's 50-day simple moving average is $715.35 and its 200-day simple moving average is $650.95. The firm has a market capitalization of $39.82 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 3.12 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.09. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. The business had revenue of $664.57 million during the quarter, compared to the consensus estimate of $648.74 million. During the same quarter last year, the firm posted $3.17 EPS. Monolithic Power Systems's revenue was up 31.0% compared to the same quarter last year. On average, research analysts forecast that Monolithic Power Systems will post 13.2 earnings per share for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 12,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the sale, the executive vice president directly 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 SEC, which can be accessed through this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company's stock, valued at $35,204,250. This represents a 11.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,200 shares of company stock worth $13,046,800. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of large investors have recently made changes to their positions in the stock. WPG Advisers LLC purchased a new stake in Monolithic Power Systems during the 1st quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Monolithic Power Systems in the fourth quarter worth about $29,000. SouthState Corp bought a new position in shares of Monolithic Power Systems in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. grew its stake in Monolithic Power Systems by 637.5% during the fourth 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Monolithic Power Systems during the 2nd quarter worth approximately $36,000. 93.46% of the stock is owned by 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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