Raymond James analyst Chris Caso reiterated a Buy rating on Monolithic Power (MPWR) yesterday and set a price target of $420.00. The company’s shares closed last Thursday at $367.60, close to its 52-week high of $406.75.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 22.3% and a 62.2% success rate. Caso covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, SiTime Corporation, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Monolithic Power with a $432.00 average price target, representing a 17.5% upside. In a report issued on January 27, Oppenheimer also assigned a Buy rating to the stock with a $420.00 price target.
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Based on Monolithic Power’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $259 million and net profit of $55.57 million. In comparison, last year the company earned revenue of $169 million and had a net profit of $29.53 million.
Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MPWR in relation to earlier this year.
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Monolithic Power Systems, Inc. designs, develops and markets power solutions. Its products include power modules, class-d audio, ultrasound mux, automotive, LED lighting and illumination, precision analog and motor drivers. The company was founded by Michael R. Hsing and James C. Moyer on August 22, 1997 and is headquartered in Kirkland, WA.
