Needham & Company LLC Issues Pessimistic Forecast for Monolithic Power Systems (NASDAQ:MPWR) Stock Price

Monolithic Power Systems (NASDAQ:MPWR) had its price objective dropped by analysts at Needham & Company LLC from $950.00 to $600.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 3.30% from the stock’s current price.

A number of other brokerages have also recently issued reports on MPWR. Stifel Nicolaus raised their target price on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Loop Capital raised Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target on the stock in a report on Monday, November 18th. Raymond James upped their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company began coverage on Monolithic Power Systems in a research note on Friday. They issued an “equal weight” rating and a $610.00 target price on the stock. Finally, TD Cowen reduced their price target 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $840.36.

Monolithic Power Systems Trading Up 1.5 %

Shares of NASDAQ MPWR opened at $580.81 on Friday. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. Monolithic Power Systems has a twelve month low of $538.00 and a twelve month high of $959.64. The business has a 50 day simple moving average of $826.30 and a 200-day simple moving average of $821.87.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. As a group, equities analysts predict that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the sale, the executive vice president now directly owns 103,829 shares in the company, valued at approximately $96,518,400.11. The trade was a 9.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deming Xiao sold 9,259 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,359 shares of company stock valued at $26,709,571. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. grew its position in Monolithic Power Systems by 6.6% in the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after buying an additional 1,082 shares during the last quarter. EULAV Asset Management grew its holdings in shares of Monolithic Power Systems by 8.6% in the 3rd quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock worth $100,099,000 after acquiring an additional 8,600 shares during the last quarter. Empowered Funds LLC raised its position in shares of Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock worth $3,741,000 after purchasing an additional 909 shares during the period. Cetera Investment Advisers raised its position in shares of Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after purchasing an additional 4,760 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in shares of 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 during the last quarter. 93.46% of the stock is currently owned by 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.