Wells Fargo & Company Lowers Monolithic Power Systems (NASDAQ:MPWR) Price Target to $665.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target dropped by stock analysts at Wells Fargo & Company from $710.00 to $665.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 12.52% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Loop Capital raised their price target on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Rosenblatt Securities dropped their price target on shares of Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC lifted their price target on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup started coverage on shares of Monolithic Power Systems in a research note on Wednesday, December 11th. They set a “buy” rating and a $700.00 target price on the stock. Finally, KeyCorp lifted their target price on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $851.58.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR opened at $590.98 on Friday. The company’s 50-day simple moving average is $636.30 and its 200-day simple moving average is $706.60. The stock has a market capitalization of $28.29 billion, a P/E ratio of 16.07, a P/E/G ratio of 2.60 and a beta of 1.03. Monolithic Power Systems has a fifty-two week low of $546.71 and a fifty-two week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. On average, research analysts forecast that Monolithic Power Systems will post 13.2 EPS for the current year.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the sale, the executive vice president now directly owns 16,015 shares in the company, valued at $11,242,209.70. This represents a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Institutional Trading of Monolithic Power Systems

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Monolithic Power Systems by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,824,274 shares of the semiconductor company’s stock worth $3,446,223,000 after buying an additional 74,046 shares during the period. FMR LLC increased its stake in shares of Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after buying an additional 361,416 shares during the period. State Street Corp increased its stake in shares of Monolithic Power Systems by 2.1% during the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock worth $1,930,301,000 after buying an additional 42,678 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Monolithic Power Systems by 16.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,528,301 shares of the semiconductor company’s stock worth $904,297,000 after buying an additional 214,395 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Monolithic Power Systems by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,365,459 shares of the semiconductor company’s stock worth $807,158,000 after buying an additional 31,295 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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.