Monolithic Power Systems (NASDAQ:MPWR) Given New $615.00 Price Target at Citigroup

Monolithic Power Systems (NASDAQ:MPWR) had its target price lowered by analysts at Citigroup from $800.00 to $615.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 15.36% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a report on Friday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research note on Friday, March 21st. KeyCorp increased their target price on Monolithic Power Systems from $700.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Rosenblatt Securities reduced their price objective on Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Loop Capital lifted their price objective on Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two research 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $844.50.

Monolithic Power Systems Trading Up 10.0 %

MPWR stock opened at $533.13 on Friday. The firm has a 50 day moving average of $607.94 and a 200-day moving average of $668.99. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.60 and a beta of 1.21. Monolithic Power Systems has a 12-month low of $438.86 and a 12-month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. Sell-side analysts forecast that Monolithic Power Systems will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Maurice Sciammas sold 7,000 shares of Monolithic Power Systems stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $701.98, for a total value of $4,913,860.00. Following the transaction, the executive vice president now directly owns 16,015 shares of the company’s stock, valued at $11,242,209.70. The trade was a 30.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MPWR. Tradewinds Capital Management LLC grew its stake in Monolithic Power Systems by 120.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock worth $26,000 after buying an additional 24 shares during the period. OFI Invest Asset Management purchased a new stake in Monolithic Power Systems during the 4th quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new stake in Monolithic Power Systems in the 4th quarter valued at $29,000. West Oak Capital LLC raised its position in Monolithic Power Systems by 990.9% in the fourth 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, Itau Unibanco Holding S.A. boosted its position in shares of Monolithic Power Systems by 637.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company’s stock worth $35,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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.