Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $265.00 at SunTrust Banks

Monolithic Power Systems (NASDAQ:MPWR) had its price objective upped by analysts at SunTrust Banks from $212.00 to $265.00 in a report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. SunTrust Banks’ price objective indicates a potential upside of 16.29% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Oppenheimer initiated coverage on Monolithic Power Systems in a research note on Wednesday, June 10th. They issued a “buy” rating and a $210.00 target price for the company. Needham & Company LLC lifted their target price on Monolithic Power Systems from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Raymond James lifted their target price on Monolithic Power Systems from $190.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Rosenblatt Securities lifted their target price on Monolithic Power Systems from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Sunday, June 21st. Finally, BidaskClub upgraded Monolithic Power Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Monolithic Power Systems has a consensus rating of “Buy” and a consensus price target of $220.89.

Monolithic Power Systems stock traded down $0.70 during midday trading on Friday, hitting $227.88. The stock had a trading volume of 67 shares, compared to its average volume of 348,618. The stock has a market cap of $10.23 billion, a P/E ratio of 88.80, a P/E/G ratio of 3.28 and a beta of 1.23. Monolithic Power Systems has a 12 month low of $126.07 and a 12 month high of $238.94. The business has a fifty day moving average price of $213.15 and a 200 day moving average price of $183.76.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.01. Monolithic Power Systems had a return on equity of 14.87% and a net margin of 18.15%. The firm had revenue of $165.78 million during the quarter, compared to analyst estimates of $161.15 million. During the same period in the previous year, the company earned $0.84 earnings per share. Monolithic Power Systems’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Monolithic Power Systems will post 2.68 EPS for the current fiscal year.

In other Monolithic Power Systems news, CEO Michael Hsing sold 23,258 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $170.00, for a total value of $3,953,860.00. Following the completion of the sale, the chief executive officer now directly owns 1,223,252 shares in the company, valued at $207,952,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deming Xiao sold 4,380 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $162.58, for a total value of $712,100.40. Following the completion of the sale, the insider now owns 351,573 shares of the company’s stock, valued at $57,158,738.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,242 shares of company stock valued at $36,027,999. Insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of Monolithic Power Systems by 35.6% in the first quarter. Signaturefd LLC now owns 297 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 78 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Monolithic Power Systems by 558.7% in the fourth quarter. Meeder Asset Management Inc. now owns 303 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 257 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Monolithic Power Systems in the first quarter valued at $56,000. Squar Milner Financial Services LLC increased its holdings in shares of Monolithic Power Systems by 18.6% in the first quarter. Squar Milner Financial Services LLC now owns 638 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. Finally, First Bank & Trust increased its holdings in shares of Monolithic Power Systems by 115.8% in the first quarter. First Bank & Trust now owns 861 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers 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, monitors, automobiles, and medical equipment.

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