Insider Selling: Monolithic Power Systems CEO Sells 149,996 Shares of Stock (MPWR)
Monolithic Power Systems (NASDAQ:MPWR) CEO Michael Hsing unloaded 149,996 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $46.24, for a total value of $6,935,815.04. Following the transaction, the chief executive officer now directly owns 307,860 shares of the company’s stock, valued at approximately $14,235,446. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Monolithic Power Systems (NASDAQ:MPWR) traded down 1.07% during mid-day trading on Wednesday, hitting $46.44. 64,252 shares of the company’s stock traded hands. Monolithic Power Systems has a 1-year low of $27.25 and a 1-year high of $47.75. The stock has a 50-day moving average of $42.83 and a 200-day moving average of $39.37. The company has a market cap of $1.798 billion and a price-to-earnings ratio of 61.20.
Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $68.40 million for the quarter, compared to the consensus estimate of $67.14 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts predict that Monolithic Power Systems will post $1.63 earnings per share for the current fiscal year.
MPWR has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, July 25th. They now have a $48.00 price target on the stock, up previously from $47.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, July 25th. They now have a $48.00 price target on the stock, up previously from $45.00. Finally, analysts at Evercore Partners initiated coverage on shares of Monolithic Power Systems in a research note on Friday, July 25th. They set an “overweight” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Monolithic Power Systems currently has a consensus rating of “Buy” and an average target price of $44.00.
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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