Needham & Company LLC Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $820.00

Key Points

• Needham & Company LLC has increased the price target for Monolithic Power Systems (NASDAQ:MPWR) from $800.00 to $820.00, reflecting a potential upside of 15.29% based on the stock's previous close.
• The semiconductor company reported earnings per share of $4.21 for the last quarter, surpassing analysts' expectations of $4.12, and has experienced a 31% year-over-year revenue increase.
• Currently, Monolithic Power Systems holds an average rating of "Moderate Buy" among analysts, with a consensus price target of approximately $820.33, showing strong support from multiple brokerages.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) had its price objective increased by Needham & Company LLC from $800.00 to $820.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target suggests a potential upside of 15.29% from the stock's previous close.

A number of other analysts have also recently commented on MPWR. Loop Capital lifted their price objective on Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on Monolithic Power Systems from $695.00 to $730.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Rosenblatt Securities reiterated a "neutral" rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research report on Friday. Stifel Nicolaus dropped their price objective 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. Finally, Oppenheimer reiterated an "outperform" rating and set a $800.00 price objective (up previously from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $820.33.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR opened at $711.24 on Friday. The stock has a fifty day moving average price of $712.10 and a two-hundred day moving average price of $648.04. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.90 and a beta of 1.20. Monolithic Power Systems has a 1 year low of $438.86 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $4.12 by $0.09. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The business had revenue of $664.57 million during the quarter, compared to analysts' expectations of $648.74 million. During the same quarter last year, the business posted $3.17 earnings per share. The business's revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts predict that Monolithic Power Systems will post 13.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction on Monday, May 12th. The shares were sold at an average price of $698.00, for a total value of $69,800.00. Following the completion of the sale, the director owned 676 shares in the company, valued at approximately $471,848. The trade was a 12.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Maurice Sciammas sold 12,000 shares of Monolithic Power Systems stock in a transaction 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 completion of the sale, the executive vice president owned 4,015 shares of the company's stock, valued at approximately $2,814,515. This trade represents a 74.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,200 shares of company stock worth $13,046,800. Insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds have recently added to or reduced their stakes in MPWR. GAMMA Investing LLC boosted its holdings 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 worth $451,418,000 after purchasing an additional 777,316 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Monolithic Power Systems by 33.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,034,731 shares of the semiconductor company's stock worth $1,180,104,000 after purchasing an additional 506,430 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Monolithic Power Systems by 18,567.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 200,487 shares of the semiconductor company's stock worth $118,628,000 after purchasing an additional 199,413 shares during the period. Alyeska Investment Group L.P. acquired a new position in Monolithic Power Systems in the fourth quarter worth $113,547,000. Finally, Ensign Peak Advisors Inc boosted its holdings in Monolithic Power Systems by 121.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 337,078 shares of the semiconductor company's stock worth $199,449,000 after purchasing an additional 185,002 shares during the period. Institutional investors and hedge funds own 93.46% of the company's stock.

About Monolithic Power Systems

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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