Monolithic Power Systems Given Buy Rating at Deutsche Bank (MPWR)
Monolithic Power Systems (NASDAQ:MPWR)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank in a research note issued to investors on Monday, ARN reports. They currently have a $35.00 target price on the stock, up from their previous target price of $30.00. Deutsche Bank’s price target suggests a potential upside of 17.02% from the company’s current price.
The analysts wrote, “Raising estimates on greater confidence in 2014 growth. Revisiting one of our favorite names, we have greater confidence in MPWR’s multifaceted 2014 growth story. Largely on product cycles in SSDs, Comm, and Computing; a better-than-seasonal 4Q Consumer decline (game console); and stable inventory dynamics, we see MPWR entering 2014 with a number of company-specific drivers that should yield another year of above-industry growth and GM/OM expansion. Accordingly, we are reiterating our Buy rating, raising our CY14 EPS from $1.45 to $1.65.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company downgraded shares of Monolithic Power Systems (NASDAQ:MPWR) from a “buy” rating to a “hold” rating in a research note to investors on Friday, September 13th. They now have a $30.00 price target on the stock. Separately, analysts at William Blair initiated coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note to investors on Friday, August 30th. They set an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Monolithic Power Systems (NASDAQ:MPWR) from $32.00 to $34.00 in a research note to investors on Thursday, August 29th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.80.
Monolithic Power Systems (NASDAQ:MPWR) traded up 0.47% during mid-day trading on Monday, hitting $30.05. 156,049 shares of the company’s stock traded hands. Monolithic Power Systems has a 52-week low of $17.17 and a 52-week high of $31.44. The stock’s 50-day moving average is $29.83 and its 200-day moving average is $25.71. The company has a market cap of $1.131 billion and a P/E ratio of 80.19.
Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $57.55 million. During the same quarter last year, the company posted $0.28 earnings per share. Monolithic Power Systems’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Monolithic Power Systems will post $1.04 earnings per share for the current fiscal year.
In other Monolithic Power Systems news, VP Maurice Sciammas unloaded 63,767 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $30.53, for a total transaction of $1,946,806.51. Following the completion of the sale, the vice president now directly owns 104,638 shares of the company’s stock, valued at approximately $3,194,598. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Monolithic Power Systems, Inc (NASDAQ:MPWR) is a fabless semiconductor company that designs, develops and markets analog and mixed-signal semiconductors.
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