Monolithic Power Systems Inc. (MPWR) Hits New 52-Week High at $77.74
Monolithic Power Systems Inc. (NASDAQ:MPWR)’s share price reached a new 52-week high on Thursday . The stock traded as high as $77.74 and last traded at $77.66, with a volume of 269,320 shares traded. The stock had previously closed at $76.72.
Several research firms have recently weighed in on MPWR. Needham & Company LLC reiterated a “buy” rating and issued a $76.00 target price (up previously from $68.00) on shares of Monolithic Power Systems in a research note on Wednesday, July 27th. Stifel Nicolaus lifted their target price on shares of Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. Zacks Investment Research downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $73.63.
The stock’s 50 day moving average is $73.83 and its 200 day moving average is $66.61. The company has a market capitalization of $3.13 billion and a price-to-earnings ratio of 74.47.
Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Monday, July 25th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. During the same quarter in the prior year, the company posted $0.46 EPS. The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $93.08 million. Monolithic Power Systems’s revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Monolithic Power Systems Inc. will post $2.26 EPS for the current year.
In other news, insider Deming Xiao sold 7,114 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $72.66, for a total transaction of $516,903.24. Following the completion of the sale, the insider now owns 284,286 shares of the company’s stock, valued at approximately $20,656,220.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Saria Tseng sold 5,653 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $75.25, for a total transaction of $425,388.25. Following the sale, the vice president now directly owns 274,112 shares of the company’s stock, valued at approximately $20,626,928. The disclosure for this sale can be found here.
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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