Needham & Company LLC Lowers Monolithic Power Systems (NASDAQ:MPWR) Price Target to $950.00

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) had its price objective lowered by stock analysts at Needham & Company LLC from $1,000.00 to $950.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective suggests a potential upside of 25.12% from the company's previous close.

MPWR has been the subject of several other research reports. KeyCorp upped their target price on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Truist Financial reissued a "buy" rating and set a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. TD Cowen dropped their price objective on Monolithic Power Systems from $1,100.00 to $975.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Raymond James increased their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Monolithic Power Systems presently has an average rating of "Buy" and an average price target of $942.40.

Monolithic Power Systems Stock Down 17.5 %

Shares of MPWR stock traded down $160.51 during trading on Thursday, hitting $759.30. The company had a trading volume of 3,055,198 shares, compared to its average volume of 543,208. The stock's 50-day moving average is $903.58 and its two-hundred day moving average is $822.06. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 92.15, a price-to-earnings-growth ratio of 4.17 and a beta of 1.11. Monolithic Power Systems has a 52 week low of $409.05 and a 52 week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing the consensus estimate 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 20.24% and a net margin of 21.70%. On average, research analysts predict that Monolithic Power Systems will post 10.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Deming Xiao sold 859 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $668,637.01. Following the completion of the transaction, the executive vice president now directly owns 202,354 shares in the company, valued at $157,510,330.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Theodore Blegen sold 728 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $566,667.92. Following the sale, the chief financial officer now directly owns 64,178 shares of the company's stock, valued at $49,955,513.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deming Xiao sold 859 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $668,637.01. Following the sale, the executive vice president now directly owns 202,354 shares in the company, valued at $157,510,330.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,636 shares of company stock worth $36,459,953 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several institutional investors have recently modified their holdings of the business. Dynamic Advisor Solutions LLC boosted its position in Monolithic Power Systems by 3.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 326 shares of the semiconductor company's stock worth $268,000 after purchasing an additional 12 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Monolithic Power Systems by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 888 shares of the semiconductor company's stock worth $731,000 after purchasing an additional 12 shares during the last quarter. Outlook Wealth Advisors LLC boosted its position in Monolithic Power Systems by 2.5% in the third quarter. Outlook Wealth Advisors LLC now owns 499 shares of the semiconductor company's stock worth $461,000 after purchasing an additional 12 shares during the last quarter. Greenleaf Trust boosted its position in Monolithic Power Systems by 1.5% in the third quarter. Greenleaf Trust now owns 979 shares of the semiconductor company's stock worth $905,000 after purchasing an additional 14 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Monolithic Power Systems by 2.8% in the second quarter. Valeo Financial Advisors LLC now owns 558 shares of the semiconductor company's stock worth $458,000 after purchasing an additional 15 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.