Wells Fargo & Company Initiates Coverage on Monolithic Power Systems (NASDAQ:MPWR)

Investment analysts at Wells Fargo & Company started coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $610.00 price target on the semiconductor company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.77% from the stock’s current price.

Several other research firms have also commented on MPWR. KeyCorp lowered their target price on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen decreased their price objective on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Truist Financial reissued a “buy” rating and issued a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $872.18.

Monolithic Power Systems Stock Up 1.1 %

Shares of NASDAQ MPWR opened at $566.04 on Friday. The stock’s 50 day moving average price is $839.56 and its two-hundred day moving average price is $824.73. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64. The stock has a market capitalization of $27.61 billion, a P/E ratio of 63.82, a PEG ratio of 2.79 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.05). The company had revenue of $620.12 million for the quarter, compared to the consensus estimate 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 anticipate that Monolithic Power Systems will post 10.46 EPS for the current year.

Insider Buying and Selling at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $908.36, for a total value of $2,270,900.00. Following the transaction, the chief financial officer now owns 59,178 shares of the company’s stock, valued at $53,754,928.08. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deming Xiao sold 9,259 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the transaction, the executive vice president now directly owns 20,455 shares in the company, valued at approximately $19,432,250. This represents a 31.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,359 shares of company stock valued at $26,709,571 in the last quarter. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of institutional investors have recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its position in shares of Monolithic Power Systems by 3.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 326 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 12 shares during the period. Evergreen Capital Management LLC increased its position in Monolithic Power Systems by 1.4% during the second quarter. Evergreen Capital Management LLC now owns 888 shares of the semiconductor company’s stock worth $731,000 after acquiring an additional 12 shares during the period. Outlook Wealth Advisors LLC increased its position in Monolithic Power Systems by 2.5% during the third quarter. Outlook Wealth Advisors LLC now owns 499 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 12 shares during the period. Greenleaf Trust increased its position in Monolithic Power Systems by 1.5% during the third quarter. Greenleaf Trust now owns 979 shares of the semiconductor company’s stock worth $905,000 after acquiring an additional 14 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in Monolithic Power Systems by 4.8% during the third quarter. Aptus Capital Advisors LLC now owns 308 shares of the semiconductor company’s stock worth $285,000 after acquiring an additional 14 shares during the period. Institutional investors own 93.46% of the company’s stock.

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.