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Equities researchers at Evercore Partners initiated coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research report issued on Wednesday, reports. The firm set an “overweight” rating and a $46.00 price target on the stock. Evercore Partners’ price target suggests a potential upside of 21.28% from the company’s current price.

Shares of Monolithic Power Systems (NASDAQ:MPWR) traded down 0.69% during mid-day trading on Wednesday, hitting $37.669. 116,728 shares of the company’s stock traded hands. Monolithic Power Systems has a one year low of $23.47 and a one year high of $39.80. The stock has a 50-day moving average of $37.19 and a 200-day moving average of $34.79. The company has a market cap of $1.454 billion and a P/E ratio of 50.71.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, April 24th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.13. The company had revenue of $60.06 million for the quarter, compared to the consensus estimate of $60.13 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Monolithic Power Systems will post $1.55 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, April 25th. They now have a $45.00 price target on the stock, up previously from $44.00. Separately, analysts at Oppenheimer raised their price target on shares of Monolithic Power Systems from $38.00 to $41.00 in a research note on Wednesday, March 12th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Monolithic Power Systems has a consensus rating of “Buy” and a consensus price target of $39.70.

In other Monolithic Power Systems news, VP Saria Tseng unloaded 2,900 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $36.53, for a total transaction of $105,937.00. Following the completion of the sale, the vice president now directly owns 46,355 shares in the company, valued at approximately $1,693,348. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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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