Monolithic Power Systems (NASDAQ:MPWR) has received an upgrade to a “strong-buy” rating from stock analysts at TD Cowen, according to a research note issued to investors on Monday. This upgrade follows recent research reports from other analysts, including Needham & Company LLC, Oppenheimer, KeyCorp, Raymond James, and Deutsche Bank Aktiengesellschaft, who have all expressed positive sentiments towards the company’s stock.
In its most recent earnings report, Monolithic Power Systems announced earnings per share (EPS) of $3.17 for the quarter, surpassing the consensus estimate of $3.07 by $0.10. The company’s return on equity was reported at 20.24%, with a net margin of 21.70%. Monolithic Power Systems also reported revenue of $507.40 million, exceeding analyst estimates of $490.66 million. These results indicate a 15.0% increase in revenue compared to the same quarter last year.
Insider trading activity has been observed at Monolithic Power Systems, with Director Victor K. Lee selling 1,000 shares of the company’s stock on June 28th at an average price of $820.46, totaling $820,460.00. Following this transaction, Lee now holds 29,232 shares valued at approximately $23,983,686.72. CEO Michael Hsing also sold 2,672 shares on July 1st at an average price of $804.57, resulting in a total transaction value of $2,149,811.04. Hsing currently owns 877,736 shares of the company’s stock, valued at $706,200,053.52.
Large institutional investors have made recent changes to their positions in Monolithic Power Systems, with Vanguard Group Inc., Wellington Management Group LLP, Capital Research Global Investors, Norges Bank, and Vaughan Nelson Investment Management L.P. all increasing their stakes in the company.
Based on available data, Monolithic Power Systems currently has an average rating of “Buy” from analysts, with a consensus price target of $912.30.