Monolithic Power Systems (NASDAQ:MPWR) Given New $600.00 Price Target at Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) had its price objective lowered by equities research analysts at Needham & Company LLC from $950.00 to $600.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target would indicate a potential upside of 3.30% from the stock's current price.

A number of other research firms have also recently commented on MPWR. Deutsche Bank Aktiengesellschaft increased their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Truist Financial reiterated a "buy" rating and issued a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Raymond James raised their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. TD Cowen dropped their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Finally, Rosenblatt Securities lowered shares of Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Monolithic Power Systems presently has an average rating of "Moderate Buy" and an average target price of $840.36.

Monolithic Power Systems Trading Up 1.5 %

Monolithic Power Systems stock traded up $8.34 during trading hours on Friday, reaching $580.81. 930,118 shares of the stock were exchanged, compared to its average volume of 606,213. The company has a market cap of $28.33 billion, a P/E ratio of 66.32, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. Monolithic Power Systems has a twelve month low of $538.00 and a twelve month high of $959.64. The stock has a 50 day moving average of $832.97 and a two-hundred day moving average of $822.93.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts' consensus estimates of $3.04 by ($0.05). The company had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. On average, analysts expect that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In other news, EVP Deming Xiao sold 9,259 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the sale, the executive vice president now owns 20,455 shares of the company's stock, valued at $19,432,250. This trade represents a 31.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 734 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.15, for a total transaction of $561,620.10. Following the sale, the chief financial officer now directly owns 55,944 shares of the company's stock, valued at approximately $42,805,551.60. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,359 shares of company stock valued at $26,709,571 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Monolithic Power Systems

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in Monolithic Power Systems by 224.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company's stock valued at $1,034,000 after purchasing an additional 1,057 shares during the period. O Shaughnessy Asset Management LLC grew its position in Monolithic Power Systems by 52.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,629 shares of the semiconductor company's stock valued at $1,104,000 after purchasing an additional 561 shares during the period. LRI Investments LLC acquired a new stake in Monolithic Power Systems in the 1st quarter valued at $132,000. Lazard Asset Management LLC grew its position in Monolithic Power Systems by 21,460.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,078 shares of the semiconductor company's stock valued at $730,000 after purchasing an additional 1,073 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Monolithic Power Systems in the 1st quarter valued at $2,913,000. 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.