Wells Fargo & Company Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $665.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective lowered by stock analysts at Wells Fargo & Company from $710.00 to $665.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 12.52% from the company’s previous close.

Several other research analysts have also recently issued reports on MPWR. Oppenheimer cut their price objective on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. KeyCorp increased their price objective on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Citigroup began coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price objective for the company. Rosenblatt Securities cut their price objective on Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Needham & Company LLC raised their price target on Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and an average target price of $851.58.

Monolithic Power Systems Trading Down 3.0 %

MPWR stock opened at $590.98 on Friday. The company has a market capitalization of $28.29 billion, a P/E ratio of 16.07, a PEG ratio of 2.60 and a beta of 1.03. Monolithic Power Systems has a twelve month low of $546.71 and a twelve month high of $959.64. The business has a 50 day simple moving average of $636.30 and a 200-day simple moving average of $706.60.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. Research analysts predict that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $701.98, for a total value of $4,913,860.00. Following the sale, the executive vice president now directly owns 16,015 shares of the company’s stock, valued at approximately $11,242,209.70. This trade represents a 30.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caprock Group LLC raised its holdings in shares of Monolithic Power Systems by 64.3% during the 3rd quarter. Caprock Group LLC now owns 570 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 223 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Monolithic Power Systems during the 3rd quarter valued at about $1,570,000. PNC Financial Services Group Inc. raised its holdings in shares of Monolithic Power Systems by 13.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,139 shares of the semiconductor company’s stock valued at $9,374,000 after buying an additional 1,167 shares during the period. Commerce Bank raised its holdings in shares of Monolithic Power Systems by 101.5% during the 3rd quarter. Commerce Bank now owns 5,887 shares of the semiconductor company’s stock valued at $5,443,000 after buying an additional 2,965 shares during the period. Finally, LPL Financial LLC increased its holdings in Monolithic Power Systems by 9.1% during the 3rd quarter. LPL Financial LLC now owns 98,510 shares of the semiconductor company’s stock worth $91,073,000 after purchasing an additional 8,238 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.