Loop Capital Initiates Coverage on Monolithic Power Systems (NASDAQ:MPWR)

Loop Capital initiated coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note issued on Monday, Marketbeat reports. The brokerage set a “hold” rating and a $660.00 price target on the semiconductor company’s stock. Loop Capital’s price target suggests a potential upside of 2.47% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. TD Cowen reduced their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC cut their price objective on shares of Monolithic Power Systems from $1,000.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, October 31st. KeyCorp boosted their target price on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Raymond James increased 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $916.73.

Monolithic Power Systems Stock Down 0.5 %

MPWR stock opened at $644.10 on Monday. Monolithic Power Systems has a 52 week low of $500.54 and a 52 week high of $959.64. The firm has a 50-day simple moving average of $871.40 and a 200-day simple moving average of $830.09. The stock has a market capitalization of $31.42 billion, a P/E ratio of 72.62, a P/E/G ratio of 3.62 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last announced 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 firm had revenue of $620.12 million for the quarter, compared to analyst estimates of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. On average, analysts expect that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now owns 61,678 shares of the company’s stock, valued at $55,769,247.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Deming Xiao sold 10,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $28,228,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the sale, the chief financial officer now directly owns 61,678 shares in the company, valued at approximately $55,769,247.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,759 shares of company stock worth $34,985,340. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Monolithic Power Systems

Several hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its holdings in Monolithic Power Systems by 40.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,634 shares of the semiconductor company’s stock worth $7,982,000 after purchasing an additional 2,483 shares during the period. Larson Financial Group LLC increased its stake in shares of Monolithic Power Systems by 1.2% during the third quarter. Larson Financial Group LLC now owns 7,052 shares of the semiconductor company’s stock worth $6,520,000 after buying an additional 83 shares during the period. Swedbank AB raised its holdings in Monolithic Power Systems by 49.4% in the third quarter. Swedbank AB now owns 10,400 shares of the semiconductor company’s stock valued at $9,615,000 after acquiring an additional 3,439 shares in the last quarter. Cerity Partners LLC lifted its stake in Monolithic Power Systems by 47.9% in the third quarter. Cerity Partners LLC now owns 4,551 shares of the semiconductor company’s stock worth $4,207,000 after acquiring an additional 1,474 shares during the last quarter. Finally, Covenant Asset Management LLC grew its holdings in Monolithic Power Systems by 181.1% during the 3rd quarter. Covenant Asset Management LLC now owns 742 shares of the semiconductor company’s stock worth $686,000 after acquiring an additional 478 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.