Monolithic Power Systems Inc. (MPWR) Sees Large Volume Increase
Monolithic Power Systems Inc. (NASDAQ:MPWR) saw unusually-high trading volume on Monday . Approximately 5,209,500 shares traded hands during mid-day trading, an increase of 1,067% from the previous session’s volume of 446,263 shares.The stock last traded at $77.37 and had previously closed at $77.66.
MPWR has been the topic of several research analyst reports. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Zacks Investment Research cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $76.00 price objective (up previously from $68.00) on shares of Monolithic Power Systems in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $73.63.
The company has a market cap of $3.13 billion and a P/E ratio of 74.47. The stock’s 50 day moving average price is $73.83 and its 200-day moving average price is $66.61.
Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.54 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.54. During the same period last year, the business earned $0.46 EPS. The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $93.08 million. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current year.
In other news, insider Deming Xiao sold 7,114 shares of the firm’s stock in a transaction 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 directly owns 284,286 shares in the company, valued at approximately $20,656,220.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Saria Tseng sold 6,320 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $72.66, for a total value of $459,211.20. Following the completion of the transaction, the vice president now owns 280,056 shares in the company, valued at $20,348,868.96. 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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