Monolithic Power Systems (NASDAQ:MPWR) Given New $800.00 Price Target at Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWRGet Free Report) had its price target boosted by investment analysts at Needham & Company LLC from $500.00 to $800.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 6.34% from the stock’s previous close.

MPWR has been the subject of several other research reports. Oppenheimer upped their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Truist Financial cut their target price on Monolithic Power Systems from $600.00 to $483.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Rosenblatt Securities upped their target price on Monolithic Power Systems from $550.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. TD Cowen increased their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on Monolithic Power Systems from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $668.30.

Check Out Our Latest Research Report on MPWR

Monolithic Power Systems Price Performance

Shares of MPWR opened at $752.31 on Thursday. The firm has a market cap of $36.55 billion, a P/E ratio of 85.88, a P/E/G ratio of 5.99 and a beta of 1.22. The stock has a 50 day simple moving average of $613.65 and a two-hundred day simple moving average of $535.67. Monolithic Power Systems has a 1 year low of $383.19 and a 1 year high of $761.50.

Insider Activity at Monolithic Power Systems

In related news, Director Kuo Wei Herbert Chang sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $510.00, for a total transaction of $51,000.00. Following the completion of the transaction, the director now owns 1,693 shares in the company, valued at $863,430. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Monolithic Power Systems news, CFO Theodore Blegen sold 728 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $680.00, for a total value of $495,040.00. Following the completion of the transaction, the chief financial officer now owns 83,173 shares in the company, valued at $56,557,640. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kuo Wei Herbert Chang sold 100 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $510.00, for a total value of $51,000.00. Following the completion of the transaction, the director now owns 1,693 shares of the company’s stock, valued at approximately $863,430. The disclosure for this sale can be found here. Insiders sold a total of 177,873 shares of company stock worth $104,774,157 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of institutional investors have recently added to or reduced their stakes in MPWR. Moneta Group Investment Advisors LLC raised its holdings in Monolithic Power Systems by 140,338.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,023,797 shares of the semiconductor company’s stock worth $362,025,000 after purchasing an additional 1,023,068 shares in the last quarter. FMR LLC increased its holdings in shares of Monolithic Power Systems by 35.0% during the third quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock valued at $1,655,717,000 after acquiring an additional 929,009 shares in the last quarter. Norges Bank bought a new position in shares of Monolithic Power Systems during the fourth quarter valued at $362,477,000. Winslow Capital Management LLC bought a new position in shares of Monolithic Power Systems during the second quarter valued at $225,731,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Monolithic Power Systems by 70.4% during the first quarter. JPMorgan Chase & Co. now owns 671,820 shares of the semiconductor company’s stock valued at $336,272,000 after acquiring an additional 277,563 shares in the last quarter. Institutional investors own 96.52% of the company’s stock.

Monolithic Power Systems Company Profile

(Get Free Report)

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer 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 portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.

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