Insider Selling: James Moyer Sells 17,000 Shares of Monolithic Power Systems Stock (MPWR)
Monolithic Power Systems (NASDAQ:MPWR) Director James Moyer unloaded 17,000 shares of the stock on the open market in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.02, for a total value of $527,340.00. Following the completion of the sale, the director now directly owns 1,006,301 shares of the company’s stock, valued at approximately $31,215,457. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MPWR. Analysts at Zacks upgraded shares of Monolithic Power Systems from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $31.80 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Monolithic Power Systems in a research note to investors on Monday, September 30th. They now have a $35.00 price target on the stock, up previously from $30.00. Finally, analysts at Needham & Company downgraded shares of Monolithic Power Systems 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Monolithic Power Systems has an average rating of “Buy” and a consensus target price of $31.80.
Monolithic Power Systems (NASDAQ:MPWR) traded up 0.48% during mid-day trading on Wednesday, hitting $31.09. 188,423 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 $30.46 and its 200-day moving average is $26.29. The company has a market cap of $1.170 billion and a P/E ratio of 82.95.
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. Analysts expect that Monolithic Power Systems will post $1.04 EPS for the current fiscal year.
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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