Zacks Investment Research Upgrades Monolithic Power Systems, Inc. (MPWR) to “Hold”
Zacks Investment Research upgraded shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Monolithic Power Systems, Inc. (MPWR) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS’ mission is to reduce total energy consumption in our customers’ systems and service our customers with green, practical, compact solutions. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world. The company was founded by Michael R. Hsing and James C. Moyer in 1997 and is headquartered in San Jose, CA. “
A number of other analysts have also issued reports on the company. Stifel Nicolaus reiterated a buy rating and issued a $117.00 price target (up previously from $110.00) on shares of Monolithic Power Systems in a report on Thursday, July 27th. BidaskClub lowered Monolithic Power Systems from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. boosted their price target on Monolithic Power Systems from $100.00 to $110.00 in a report on Monday, July 24th. Needham & Company LLC reiterated a buy rating and issued a $140.00 price target (up previously from $100.00) on shares of Monolithic Power Systems in a report on Thursday, July 27th. Finally, Pacific Crest reiterated an overweight rating and issued a $110.00 price target on shares of Monolithic Power Systems in a report on Wednesday, June 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Monolithic Power Systems presently has a consensus rating of Buy and an average target price of $112.29.
Shares of Monolithic Power Systems (NASDAQ:MPWR) traded down 0.91% during midday trading on Wednesday, reaching $97.50. The company’s stock had a trading volume of 329,869 shares. The company has a market capitalization of $4.03 billion, a P/E ratio of 68.76 and a beta of 1.23. The company’s 50-day moving average price is $101.13 and its 200 day moving average price is $95.26. Monolithic Power Systems has a 12-month low of $71.60 and a 12-month high of $107.87.
Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $110.94 million. Monolithic Power Systems had a return on equity of 14.10% and a net margin of 14.30%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts forecast that Monolithic Power Systems will post $2.87 earnings per share for the current year.
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In other Monolithic Power Systems news, insider Deming Xiao sold 6,004 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $101.96, for a total transaction of $612,167.84. Following the completion of the sale, the insider now owns 284,102 shares in the company, valued at $28,967,039.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Theodore Blegen sold 4,604 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $99.00, for a total value of $455,796.00. Following the sale, the chief financial officer now owns 42,530 shares of the company’s stock, valued at approximately $4,210,470. The disclosure for this sale can be found here. Insiders sold 115,271 shares of company stock valued at $11,566,906 in the last quarter. 4.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MPWR. Quantbot Technologies LP bought a new stake in Monolithic Power Systems during the second quarter worth $121,000. TrimTabs Asset Management LLC bought a new stake in Monolithic Power Systems during the first quarter worth $128,000. D.A. Davidson & CO. raised its stake in Monolithic Power Systems by 13.2% in the second quarter. D.A. Davidson & CO. now owns 1,473 shares of the semiconductor company’s stock worth $141,000 after buying an additional 172 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Monolithic Power Systems by 115.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,552 shares of the semiconductor company’s stock worth $150,000 after buying an additional 832 shares in the last quarter. Finally, Segantii Capital Management Ltd bought a new stake in Monolithic Power Systems during the first quarter worth $157,000. Institutional investors own 93.36% of the company’s stock.
About Monolithic Power Systems
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company operates in the design, development, marketing and sale of power solutions for the communications, storage and computing, consumer and industrial markets segment.
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