Wells Fargo & Company Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $725.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target boosted by stock analysts at Wells Fargo & Company from $715.00 to $725.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.78% from the stock’s current price.

A number of other equities analysts have also weighed in on MPWR. TD Cowen upped their target price on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Oppenheimer increased their price objective on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. KeyCorp increased their price objective on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $716.90.

Monolithic Power Systems Stock Performance

Shares of NASDAQ MPWR traded up $39.34 during midday trading on Thursday, reaching $691.93. The stock had a trading volume of 295,888 shares, compared to its average volume of 534,601. The stock has a 50-day moving average of $679.69 and a 200-day moving average of $613.10. Monolithic Power Systems has a 12-month low of $383.19 and a 12-month high of $778.15. The company has a market capitalization of $33.68 billion, a price-to-earnings ratio of 78.75, a price-to-earnings-growth ratio of 3.58 and a beta of 1.21.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 22.66% and a net margin of 23.47%. The company had revenue of $454.01 million for the quarter, compared to the consensus estimate of $452.13 million. As a group, analysts forecast that Monolithic Power Systems will post 10.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $681.83, for a total value of $7,500,130.00. Following the transaction, the executive vice president now owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $681.83, for a total transaction of $7,500,130.00. Following the transaction, the executive vice president now owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Hsing sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $677.44, for a total transaction of $5,419,520.00. Following the transaction, the chief executive officer now directly owns 899,232 shares in the company, valued at approximately $609,175,726.08. The disclosure for this sale can be found here. Insiders have sold 34,577 shares of company stock valued at $24,033,249 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors have recently modified their holdings of MPWR. FMR LLC boosted its holdings in shares of Monolithic Power Systems by 35.0% in the 3rd quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock valued at $1,655,717,000 after buying an additional 929,009 shares in the last quarter. Norges Bank acquired a new stake in Monolithic Power Systems in the 4th quarter worth approximately $362,477,000. Vaughan Nelson Investment Management L.P. boosted its stake in Monolithic Power Systems by 87.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 387,523 shares of the semiconductor company’s stock worth $179,036,000 after purchasing an additional 180,500 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Monolithic Power Systems by 95.1% in the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock worth $206,712,000 after purchasing an additional 148,771 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Monolithic Power Systems by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,373,477 shares of the semiconductor company’s stock worth $2,482,546,000 after purchasing an additional 123,946 shares in 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.