Loop Capital Upgrades Monolithic Power Systems (NASDAQ:MPWR) to Buy

Monolithic Power Systems (NASDAQ:MPWR) was upgraded by investment analysts at Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat reports. The firm presently has a $660.00 target price on the semiconductor company’s stock. Loop Capital’s target price indicates a potential upside of 12.65% from the company’s previous close.

A number of other research analysts have also issued reports on MPWR. Truist Financial restated a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Oppenheimer reiterated an “outperform” rating and issued a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. KeyCorp increased their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $882.64.

Monolithic Power Systems Trading Down 0.3 %

Shares of Monolithic Power Systems stock opened at $585.87 on Monday. Monolithic Power Systems has a 12-month low of $535.39 and a 12-month high of $959.64. The firm has a market capitalization of $28.58 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 2.73 and a beta of 1.15. The firm’s 50 day simple moving average is $851.50 and its two-hundred day simple moving average is $827.45.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million for the quarter, compared to analyst estimates of $600.10 million. On average, sell-side analysts predict that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Deming Xiao sold 9,259 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at approximately $19,432,250. This represents a 31.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Theodore Blegen sold 734 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.15, for a total transaction of $561,620.10. Following the transaction, the chief financial officer now directly owns 55,944 shares in the company, valued at approximately $42,805,551.60. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,359 shares of company stock valued at $36,209,571. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its holdings in Monolithic Power Systems by 6.6% during the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock valued at $16,259,000 after purchasing an additional 1,082 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock valued at $4,583,000 after purchasing an additional 4,760 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Monolithic Power Systems by 1,118.2% during the third quarter. Mizuho Securities USA LLC now owns 45,733 shares of the semiconductor company’s stock valued at $42,280,000 after purchasing an additional 41,979 shares in the last quarter. Empowered Funds LLC lifted its holdings in Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock valued at $3,741,000 after purchasing an additional 909 shares in the last quarter. Finally, Czech National Bank lifted its holdings in Monolithic Power Systems by 9.8% during the second quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock valued at $7,620,000 after purchasing an additional 824 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.