In a filing, Monolithic Power System Inc revealed its CEO Hsing Michael unloaded Company’s shares for reported $5.29 million on May 01 ’24. In the deal valued at $661.85 per share,8,000 shares were sold. As a result of this transaction, Hsing Michael now holds 891,232 shares worth roughly $630.3 million.
Then, BLEGEN THEODORE sold 2,500 shares, generating $1,658,215 in total proceeds. Upon selling the shares at $663.29, the EVP and CFO now owns 75,723 shares.
Before that, Sciammas Maurice sold 11,000 shares. Monolithic Power System Inc shares valued at $7,500,104 were divested by the EVP of Sales and Marketing at a price of $681.83 per share. As a result of the transaction, Sciammas Maurice now holds 130,744 shares, worth roughly $92.46 million.
TD Cowen reiterated its Monolithic Power System Inc [MPWR] rating to an Outperform in a research note published on February 08, 2024; the price target was $800. A number of analysts have revised their coverage, including Rosenblatt’s analysts, who remained covering the stock and in late December has reiterated a ‘”a Buy”‘ rating for it. Wolfe Research began covering MPWR with “Peer perform” recommendation on July 20, 2023. TD Cowen maintained its rating on May 05, 2023. It rated MPWR as “an Outperform”.
Price Performance Review of MPWR
On Friday, Monolithic Power System Inc [NASDAQ:MPWR] saw its stock fall -0.80% to $707.22. Over the last five days, the stock has gained 4.43%. Monolithic Power System Inc shares have risen nearly 12.12% since the year began. Nevertheless, the stocks have risen 51.73% over the past one year. While a 52-week high of $778.15 was reached on 03/08/24, a 52-week low of $383.19 was recorded on 01/04/24. SMA at 50 days reached $679.72, while 200 days put it at $578.20. A total of 0.59 million shares were traded, compared to the trading of 1.2 million shares in the previous session.
Levels Of Support And Resistance For MPWR Stock
The 24-hour chart illustrates a support level at 696.30, which if violated will result in even more drops to 685.39. On the upside, there is a resistance level at 723.04. A further resistance level may holdings at 738.87. The Relative Strength Index (RSI) on the 14-day chart is 59.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 39.57, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.50%. Stochastics %K at 81.26% indicates the stock is a selling.
The most recent change occurred on November 16, 2022 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $475 price target.
