Monolithic Power (MPWR) Receives a Buy from Wells Fargo
Wells Fargo analyst Joseph Quatrochi maintained a Buy rating on Monolithic Power yesterday and set a price target of $1,860.00. The company’s shares closed yesterday at $1,559.18.
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According to TipRanks, Quatrochi is a 5-star analyst with an average return of 33.6% and a 72.25% success rate. Quatrochi covers the Technology sector, focusing on stocks such as ARM Holdings PLC ADR, NXP Semiconductors, and Analog Devices.
Currently, the analyst consensus on Monolithic Power is a Strong Buy with an average price target of $1,800.91.
Based on Monolithic Power’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $804.19 million and a net profit of $193.23 million. In comparison, last year the company earned a revenue of $637.55 million and had a net profit of $133.79 million
Based on the recent corporate insider activity of 97 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. Last month, Saria Tseng, the EVP & GC of MPWR sold 7,565.00 shares for a total of $12,860,500.00.
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