The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Monolithic Power System Inc shares valued at $2,260,506 were sold by BLEGEN THEODORE on Sep 03 ’24. At $904.20 per share, BLEGEN THEODORE sold 2,500 shares. The insider’s holdings dropped to 61,678 shares worth approximately $58.25 million following the completion of this transaction.
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Also, BERNIE BLEGEN purchased 2,500 shares, netting a total of over 2,260,506 in proceeds.
Before that, Xiao Deming had sold 9,259 shares from its account. In a trade valued at $8,796,050, the EVP, Global Operations traded Monolithic Power System Inc shares for $950.00 each. Upon closing the transaction, the insider’s holdings decreased to 9,259 shares, worth approximately $19.32 million.
As published in a research note from TD Cowen on August 21, 2024, Monolithic Power System Inc [MPWR] has been retained to a Buy and the price target has been revised to $1100. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in early February. As of December 26, 2023, Rosenblatt has reiterated its “Buy” rating for MPWR. Earlier on July 20, 2023, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for MPWR stock.
Analyzing MPWR Stock Performance
During the last five days, there has been a surge of approximately 3.65%. Over the course of the year, Monolithic Power System Inc shares have jumped approximately 49.72%. Shares of the company reached a 52-week high of $959.64 on 08/29/24 and a 52-week low of $561.08 on 01/04/24. A 50-day SMA is recorded $865.07, while a 200-day SMA reached $741.58. Nevertheless, trading volume fell to 0.54 million shares from 0.31 million shares the previous day.
Support And Resistance Levels for Monolithic Power System Inc (MPWR)
According to the 24-hour chart, there is a support level at 915.99, which, if violated, would cause prices to drop to 887.60. In the upper region, resistance lies at 961.54. The next price resistance is at 978.69. RSI (Relative Strength Index) is 59.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 32.81, which suggests the price will increase in the coming days. Percent R is at 4.34%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
