Citigroup Initiates Coverage on Monolithic Power Systems (NASDAQ:MPWR)

Research analysts at Citigroup began coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $700.00 price target on the semiconductor company’s stock. Citigroup’s target price points to a potential upside of 15.62% from the stock’s previous close.

A number of other research firms also recently weighed in on MPWR. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a report on Monday, November 11th. Truist Financial reiterated a “buy” rating and issued a $994.00 target price (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Wells Fargo & Company began coverage on shares of Monolithic Power Systems in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 target price for the company. Needham & Company LLC cut their target price on shares of Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $828.67.

Monolithic Power Systems Trading Down 2.9 %

NASDAQ MPWR opened at $605.45 on Wednesday. The stock’s 50 day moving average is $737.10 and its two-hundred day moving average is $807.89. The company has a market capitalization of $29.53 billion, a price-to-earnings ratio of 68.26, a PEG ratio of 2.97 and a beta of 1.05. Monolithic Power Systems has a 1-year low of $546.71 and a 1-year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The company 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 predict that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $772.96, for a total value of $1,932,400.00. Following the completion of the transaction, the chief financial officer now owns 56,678 shares in the company, valued at $43,809,826.88. The trade was a 4.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares of the company’s stock, valued at $96,518,400.11. This trade represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,100 shares of company stock worth $17,153,021 in the last quarter. Insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Monolithic Power Systems by 11.4% during the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after acquiring an additional 361,416 shares during the period. State Street Corp grew its holdings in Monolithic Power Systems by 2.1% during the 3rd quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock worth $1,930,301,000 after acquiring an additional 42,678 shares during the period. Geode Capital Management LLC grew its holdings in Monolithic Power Systems by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after acquiring an additional 133,838 shares during the period. Van ECK Associates Corp grew its holdings in Monolithic Power Systems by 26.3% during the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after acquiring an additional 93,362 shares during the period. Finally, Barclays PLC grew its holdings in Monolithic Power Systems by 5.0% during the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after acquiring an additional 15,350 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.