Monolithic Power Systems (NASDAQ:MPWR) Stock Rating Upgraded by TD Cowen

Monolithic Power Systems (NASDAQ:MPWR) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports.

Other analysts also recently issued research reports about the stock. Needham & Company LLC increased their target price on shares of Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Oppenheimer lifted their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. KeyCorp upped their price target on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Raymond James increased their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted 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. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $912.30.

Monolithic Power Systems Stock Performance

Shares of NASDAQ MPWR opened at $867.31 on Monday. The firm has a 50 day moving average price of $859.74 and a two-hundred day moving average price of $773.62. The stock has a market cap of $42.28 billion, a P/E ratio of 103.37, a price-to-earnings-growth ratio of 4.14 and a beta of 1.12. Monolithic Power Systems has a 52-week low of $392.10 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business had revenue of $507.40 million during the quarter, compared to analyst estimates of $490.66 million. During the same period last year, the company earned $2.05 EPS. Monolithic Power Systems’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts predict that Monolithic Power Systems will post 10.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Victor K. Lee sold 1,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $820.46, for a total transaction of $820,460.00. Following the completion of the sale, the director now owns 29,232 shares in the company, valued at approximately $23,983,686.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Hsing sold 2,672 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $804.57, for a total transaction of $2,149,811.04. Following the transaction, the chief executive officer now owns 877,736 shares of the company’s stock, valued at $706,200,053.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Victor K. Lee sold 1,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $820.46, for a total value of $820,460.00. Following the transaction, the director now owns 29,232 shares in the company, valued at $23,983,686.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,299 shares of company stock worth $83,140,933. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MPWR. Vanguard Group Inc. lifted its position in shares of Monolithic Power Systems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock worth $3,739,318,000 after buying an additional 55,874 shares in the last quarter. Wellington Management Group LLP grew its stake in Monolithic Power Systems by 10.0% in the 4th quarter. Wellington Management Group LLP now owns 938,919 shares of the semiconductor company’s stock valued at $592,251,000 after purchasing an additional 85,676 shares during the period. Capital Research Global Investors increased its position in shares of Monolithic Power Systems by 1.2% during the 4th quarter. Capital Research Global Investors now owns 616,180 shares of the semiconductor company’s stock valued at $388,674,000 after purchasing an additional 7,323 shares during the last quarter. Norges Bank purchased a new stake in shares of Monolithic Power Systems during the 4th quarter valued at $362,477,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Monolithic Power Systems by 4.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 483,812 shares of the semiconductor company’s stock worth $327,743,000 after purchasing an additional 22,725 shares during the period. 93.46% of the stock is owned by 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.