Monolithic Power Systems Inc. (MPWR) Hits New 52-Week High at $76.77
Monolithic Power Systems Inc. (NASDAQ:MPWR)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $76.77 and last traded at $76.45, with a volume of 99,298 shares traded. The stock had previously closed at $75.29.
A number of equities analysts have recently issued reports on MPWR shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Monolithic Power Systems in a research note on Monday, June 6th. Stifel Nicolaus raised their price objective on Monolithic Power Systems from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. Zacks Investment Research downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Deutsche Bank AG raised their price objective on Monolithic Power Systems from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $76.00 price objective (up from $68.00) on shares of Monolithic Power Systems in a research note on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $73.63.
The company has a market cap of $3.09 billion and a PE ratio of 73.36. The company’s 50 day moving average price is $72.62 and its 200 day moving average price is $65.81.
Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The business had revenue of $94.10 million for the quarter, compared to analyst estimates of $93.08 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current year.
In other news, CEO Michael Hsing sold 21,094 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $72.66, for a total transaction of $1,532,690.04. Following the completion of the transaction, the chief executive officer now directly owns 1,208,497 shares in the company, valued at $87,809,392.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Deming Xiao sold 7,114 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $72.66, for a total value of $516,903.24. Following the transaction, the insider now owns 284,286 shares of the company’s stock, valued at $20,656,220.76. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of MPWR. Advisors Asset Management Inc. increased its position in shares of Monolithic Power Systems by 14.3% in the fourth quarter. Advisors Asset Management Inc. now owns 29,468 shares of the company’s stock valued at $1,877,000 after buying an additional 3,690 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Monolithic Power Systems by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 244,677 shares of the company’s stock valued at $15,588,000 after buying an additional 10,163 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Monolithic Power Systems by 10.7% in the fourth quarter. Jennison Associates LLC now owns 493,703 shares of the company’s stock valued at $31,454,000 after buying an additional 47,565 shares during the last quarter.
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company provides power solutions for systems found in industrial applications, telecommunication infrastructures, cloud computing, automotive and consumer applications.
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