KeyCorp Has Lowered Expectations for Monolithic Power Systems (NASDAQ:MPWR) Stock Price

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

A number of other equities analysts have also issued reports on MPWR. Deutsche Bank Aktiengesellschaft raised their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $950.00 target price on shares of Monolithic Power Systems in a report on Tuesday, November 12th. Finally, TD Cowen cut 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 report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $882.64.

Monolithic Power Systems Stock Down 0.3 %

Shares of Monolithic Power Systems stock opened at $585.87 on Monday. The firm has a market capitalization of $28.58 billion, a P/E ratio of 66.05, a PEG ratio of 2.73 and a beta of 1.15. The company has a 50 day moving average price of $851.50 and a 200 day moving average price of $827.45. Monolithic Power Systems has a 52 week low of $535.39 and a 52 week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data 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 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, research analysts anticipate that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 61,678 shares of the company’s stock, valued at $55,769,247.60. The trade was a 3.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 866 shares of Monolithic Power Systems stock in a transaction on Friday, November 8th. The stock was sold at an average price of $765.14, for a total transaction of $662,611.24. Following the sale, the executive vice president now directly owns 162,239 shares in the company, valued at approximately $124,135,548.46. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,359 shares of company stock valued at $36,209,571. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPWR. FMR LLC boosted its stake 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 purchasing an additional 361,416 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Monolithic Power Systems by 311.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock valued at $153,319,000 after acquiring an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Monolithic Power Systems by 1,947.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock valued at $117,826,000 after acquiring an additional 136,391 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $1,230,626,000 after acquiring an additional 133,838 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Monolithic Power Systems by 92,842.9% during the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock valued at $114,281,000 after acquiring an additional 123,481 shares during the last quarter. Institutional investors and hedge funds 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.