Monolithic Power Systems (NASDAQ:MPWR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Monolithic Power Systems from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average price target of $1,705.82.
• The company exceeded quarterly expectations, reporting $6.50 in adjusted earnings per share versus $5.87 expected and $980.64 million in revenue versus $903.30 million forecast. Revenue increased 47.6% year over year.
• MPWR shares opened at $1,401.54, with a market capitalization of $68.86 billion. Insiders sold about $40.5 million of stock during the last quarter, while institutional investors own 93.46% of the shares.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on MPWR. Citigroup reissued a "buy" rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $1,575.00 price target on shares of Monolithic Power Systems in a research report on Friday, July 31st. Weiss Ratings lowered Monolithic Power Systems from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday. Truist Financial lifted their price objective on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Oppenheimer set a $1,700.00 price objective on Monolithic Power Systems in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Monolithic Power Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,705.82.

Monolithic Power Systems Stock Up 3.1%

NASDAQ:MPWR opened at $1,401.54 on Friday. Monolithic Power Systems has a 12 month low of $794.50 and a 12 month high of $1,714.09. The firm has a market cap of $68.86 billion, a price-to-earnings ratio of 85.93 and a beta of 1.69. The company's 50 day moving average is $1,414.84 and its 200-day moving average is $1,326.92.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The business had revenue of $980.64 million during the quarter, compared to analysts' expectations of $903.30 million. During the same period in the previous year, the company earned $4.21 earnings per share. Monolithic Power Systems's revenue for the quarter was up 47.6% on a year-over-year basis. Research analysts predict that Monolithic Power Systems will post 23.35 EPS for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In related news, Director Jeff Zhou sold 486 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total value of $816,480.00. Following the completion of the transaction, the director directly owned 3,800 shares in the company, valued at approximately $6,384,000. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the transaction, the executive vice president directly owned 1,119 shares of the company's stock, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,141 shares of company stock valued at $40,472,815. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of MPWR. Meeder Advisory Services Inc. acquired a new position in shares of Monolithic Power Systems in the 2nd quarter valued at $2,046,000. Meeder Asset Management Inc. acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at about $62,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at about $1,661,000. Cornerstone Advisors LLC bought a new stake in Monolithic Power Systems in the second quarter valued at about $10,871,000. Finally, BlackRock Inc. bought a new stake in Monolithic Power Systems in the second quarter valued at about $7,727,289,000. Institutional investors own 93.46% of the company's stock.

About Monolithic Power Systems

Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.

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