Monolithic Power Systems (NASDAQ:MPWR) Receives Buy Rating from Truist Financial

Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They presently have a $994.00 price objective on the semiconductor company’s stock, up from their previous price objective of $918.00. Truist Financial’s target price suggests a potential upside of 11.46% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Raymond James upped their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC upped their price target on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen raised Monolithic Power Systems to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $959.90.

Monolithic Power Systems Stock Performance

MPWR opened at $891.81 on Wednesday. The company has a market cap of $43.41 billion, a PE ratio of 106.29, a price-to-earnings-growth ratio of 4.13 and a beta of 1.12. The stock has a 50-day moving average of $871.47 and a 200-day moving average of $786.57. 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 posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share 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 analysts’ expectations of $490.66 million. During the same quarter in the previous year, the firm earned $2.05 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts predict that Monolithic Power Systems will post 10.41 earnings per share for the current year.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,580 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $831.58, for a total value of $2,145,476.40. Following the transaction, the chief financial officer now directly owns 67,406 shares in the company, valued at approximately $56,053,481.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,580 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $831.58, for a total value of $2,145,476.40. Following the transaction, the chief financial officer now directly owns 67,406 shares in the company, valued at approximately $56,053,481.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deming Xiao sold 10,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total value of $9,500,000.00. Following the completion of the transaction, the executive vice president now owns 29,714 shares in the company, valued at $28,228,300. The disclosure for this sale can be found here. Insiders have sold a total of 55,034 shares of company stock worth $48,181,625 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Monolithic Power Systems by 19.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock valued at $37,583,000 after purchasing an additional 9,125 shares during the period. Cim LLC acquired a new stake in Monolithic Power Systems during the 4th quarter worth $2,197,000. Cetera Investment Advisers raised its stake in Monolithic Power Systems by 237.3% during the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after buying an additional 4,760 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Monolithic Power Systems by 4.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after buying an additional 5,335 shares during the period. Finally, Czech National Bank raised its stake in Monolithic Power Systems by 9.8% during the 2nd quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock worth $7,620,000 after buying an additional 824 shares during the period. Institutional investors and hedge funds 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.