Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $850.00 at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its price target lifted by investment analysts at KeyCorp from $700.00 to $850.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price would indicate a potential upside of 22.72% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Citigroup assumed 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 for the company. Wells Fargo & Company assumed coverage on shares of Monolithic Power Systems in a research note on Friday, November 22nd. They set an “equal weight” rating and a $610.00 price objective for the company. TD Cowen cut their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective on the stock in a report on Monday, November 18th. Finally, Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $857.83.

Monolithic Power Systems Trading Up 4.8 %

NASDAQ:MPWR traded up $31.74 on Friday, hitting $692.64. The company had a trading volume of 566,356 shares, compared to its average volume of 872,154. Monolithic Power Systems has a 52 week low of $546.71 and a 52 week high of $959.64. The firm has a 50 day moving average of $613.54 and a two-hundred day moving average of $756.52. The stock has a market capitalization of $33.79 billion, a price-to-earnings ratio of 78.40, a PEG ratio of 2.44 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly 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 net margin of 21.29% and a return on equity of 20.44%. As a group, equities analysts forecast that Monolithic Power Systems will post 10.46 EPS for the current year.

Insiders Place Their Bets

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $600.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief financial officer now directly owns 53,444 shares in the company, valued at approximately $32,066,400. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

A number of hedge funds have recently added to or reduced their stakes in MPWR. Tradewinds Capital Management LLC grew its stake in Monolithic Power Systems by 120.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 24 shares during the period. NBC Securities Inc. grew its holdings in Monolithic Power Systems by 433.3% during the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Monolithic Power Systems by 3,400.0% during the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after buying an additional 34 shares in the last quarter. West Oak Capital LLC grew its stake in Monolithic Power Systems by 990.9% in the 4th quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 545 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Monolithic Power Systems in the 3rd quarter valued at $36,000. 93.46% of the stock is currently owned by 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.