Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $700.00 by Analysts at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its price objective cut by investment analysts at KeyCorp from $1,075.00 to $700.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective suggests a potential upside of 19.48% from the company’s current price.

MPWR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, September 27th. Raymond James boosted their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $950.00 price target on shares of Monolithic Power Systems in a research note on Tuesday, November 12th. Finally, Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $882.64.

Monolithic Power Systems Trading Down 0.3 %

Shares of MPWR stock opened at $585.87 on Monday. The company’s 50-day moving average price is $851.50 and its 200-day moving average price is $827.45. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 2.73 and a beta of 1.15. Monolithic Power Systems has a twelve month low of $535.39 and a twelve month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by ($0.05). The company had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. As a group, equities research analysts predict that Monolithic Power Systems will post 10.46 EPS for the current year.

Insider Activity at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 734 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.15, for a total value of $561,620.10. Following the completion of the transaction, the chief financial officer now directly owns 55,944 shares of the company’s stock, valued at $42,805,551.60. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 10,000 shares of the company’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 directly owns 29,714 shares of the company’s stock, valued at $28,228,300. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,359 shares of company stock valued at $36,209,571 over the last three months. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Monolithic Power Systems by 11.2% in the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after acquiring an additional 133,838 shares during the period. Executive Wealth Management LLC acquired a new stake in shares of Monolithic Power Systems in the third quarter valued at approximately $370,000. Barclays PLC boosted its holdings in shares of Monolithic Power Systems by 5.0% in the third quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock valued at $297,799,000 after acquiring an additional 15,350 shares during the period. EWA LLC boosted its holdings in shares of Monolithic Power Systems by 7.3% in the third quarter. EWA LLC now owns 366 shares of the semiconductor company’s stock valued at $338,000 after acquiring an additional 25 shares during the period. Finally, Groupama Asset Managment boosted its holdings in shares of Monolithic Power Systems by 29.8% in the third quarter. Groupama Asset Managment now owns 4,024 shares of the semiconductor company’s stock valued at $3,720,000 after acquiring an additional 924 shares during the period. 93.46% of the stock is 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.