Raymond James Financial Reaffirms Outperform Rating for Monolithic Power Systems (NASDAQ:MPWR)

Key Points

• Raymond James Financial has reaffirmed an outperform rating for Monolithic Power Systems (MPWR), increasing their price target to $875.00, indicating a possible 18.52% upside from the last closing price.
• The stock was reported to have risen by 3.8% recently, with a market capitalization of $35.35 billion and a PE ratio of 19.64.
• Monolithic Power Systems exceeded earnings expectations, reporting $4.21 earnings per share in their last quarter, up from $3.17 the previous year, with a year-over-year revenue growth of 31.0%.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Raymond James Financial in a research note issued to investors on Friday,Benzinga reports. They currently have a $875.00 price objective on the semiconductor company's stock, up from their previous price objective of $720.00. Raymond James Financial's price target would indicate a potential upside of 18.52% from the company's previous close.

Other analysts also recently issued reports about the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Friday. Loop Capital boosted their price target on shares of Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup boosted their price target on shares of Monolithic Power Systems from $700.00 to $785.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. TD Cowen upped their price objective on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus lowered 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 research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $834.08.

Monolithic Power Systems Stock Up 3.8%

Monolithic Power Systems stock opened at $738.30 on Friday. The company has a market capitalization of $35.35 billion, a PE ratio of 19.64, a P/E/G ratio of 2.90 and a beta of 1.20. The firm has a fifty day simple moving average of $712.10 and a two-hundred day simple moving average of $648.04. Monolithic Power Systems has a twelve month low of $438.86 and a twelve month high of $959.64.

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 for the quarter, topping the consensus estimate of $4.12 by $0.09. The business had revenue of $664.57 million during the quarter, compared to the consensus estimate of $648.74 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The firm's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 earnings per share. As a group, equities analysts expect that Monolithic Power Systems will post 13.2 earnings per share for the current fiscal year.

Insider Activity at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 12,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 4,015 shares in the company, valued at $2,814,515. The trade was a 74.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 46,939 shares in the company, valued at $35,204,250. This represents a 11.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,200 shares of company stock worth $13,046,800 over the last 90 days. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of MPWR. Brighton Jones LLC increased its position in shares of Monolithic Power Systems by 46.0% during the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after buying an additional 200 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Monolithic Power Systems in the fourth quarter worth about $454,000. Nicolet Advisory Services LLC grew its holdings in Monolithic Power Systems by 6.7% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,040 shares of the semiconductor company's stock worth $615,000 after purchasing an additional 65 shares during the period. Westpac Banking Corp purchased a new stake in Monolithic Power Systems in the fourth quarter worth about $266,000. Finally, World Investment Advisors grew its holdings in Monolithic Power Systems by 370.2% in the fourth quarter. World Investment Advisors now owns 3,865 shares of the semiconductor company's stock worth $2,287,000 after purchasing an additional 3,043 shares during the period. Hedge funds and other institutional investors 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.

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