Monolithic Power Systems (NASDAQ:MPWR) Price Target Lowered to $700.00 at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its target price cut by equities research analysts at KeyCorp from $1,075.00 to $700.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price indicates a potential upside of 20.27% from the company’s current price.

A number of other research firms have also recently weighed in on MPWR. Rosenblatt Securities cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a report on Monday. Stifel Nicolaus increased their target price on 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. Deutsche Bank Aktiengesellschaft increased their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Raymond James increased their target price 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $882.64.

Monolithic Power Systems Trading Up 1.5 %

NASDAQ MPWR opened at $582.00 on Monday. The stock has a market cap of $28.39 billion, a PE ratio of 65.61, a P/E/G ratio of 2.73 and a beta of 1.15. Monolithic Power Systems has a twelve month low of $535.39 and a twelve month high of $959.64. The stock has a fifty day simple moving average of $856.47 and a 200-day simple moving average of $827.10.

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

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value 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. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the sale, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,359 shares of company stock valued at $36,209,571 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPWR. Family Firm Inc. acquired a new position in Monolithic Power Systems in the second quarter valued at approximately $25,000. NBC Securities Inc. boosted its holdings in Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Monolithic Power Systems in the second quarter valued at approximately $33,000. Finally, Crewe Advisors LLC boosted its holdings in Monolithic Power Systems by 126.3% in the second quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 24 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.