Citigroup Forecasts Strong Price Appreciation for Monolithic Power Systems (NASDAQ:MPWR) Stock

Monolithic Power Systems (NASDAQ:MPWR - Free Report) had its price target boosted by Citigroup from $700.00 to $785.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the semiconductor company's stock.

MPWR has been the subject of several other research reports. Stifel Nicolaus dropped their price target on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. KeyCorp lowered their price target on Monolithic Power Systems from $850.00 to $820.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities restated a "neutral" rating and set a $644.00 price objective on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Wells Fargo & Company reduced their price objective on Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Finally, Raymond James reiterated an "outperform" rating and issued a $720.00 price target (down previously from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have issued 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 $786.92.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock traded down $13.69 during mid-day trading on Wednesday, reaching $681.06. 568,792 shares of the company were exchanged, compared to its average volume of 797,078. Monolithic Power Systems has a twelve month low of $438.86 and a twelve month high of $959.64. The firm's 50-day simple moving average is $606.98 and its two-hundred day simple moving average is $614.53. The firm has a market cap of $32.61 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.60 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, beating the consensus estimate of $4.00 by $0.04. The business had revenue of $637.55 million during the quarter, compared to analysts' expectations of $633.43 million. Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. The company's quarterly revenue was up 39.2% compared to the same quarter last year. During the same period last year, the firm earned $2.81 EPS. As a group, equities research analysts anticipate that Monolithic Power Systems will post 13.2 EPS for the current year.

Insider Buying and Selling

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 100 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $650.00, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 776 shares in the company, valued at $504,400. This represents a 11.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Maurice Sciammas sold 12,000 shares of the company'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 value of $8,412,000.00. Following the completion of the sale, the executive vice president now owns 4,015 shares of the company's stock, valued at $2,814,515. This trade represents a 74.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,200 shares of company stock valued at $8,546,800 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of MPWR. Tradewinds Capital Management LLC lifted its holdings in shares of Monolithic Power Systems by 120.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 24 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Monolithic Power Systems during the 1st quarter worth about $27,000. OFI Invest Asset Management acquired a new position in Monolithic Power Systems during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Monolithic Power Systems during the 4th quarter worth $29,000. Finally, SouthState Corp bought a new stake in Monolithic Power Systems during the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 93.46% of the company's stock.

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.