Bulls Lost Control Over MPW Stock; Lost 10.58% in a Week
MPW stock price surged over 30.78% in the YTD time frame. At the time of writing this article, Monolithic Power System, Inc. stock was trading at $470.36 with an intraday trading volume of 594.471k.
MPW Stock Price Analysis
In the 52 weeks time frame, MPW stock peaked at $595.98. Its lowest traded price was $301.69. The annual price target of Monolithic Power System, Inc. stock is $583.79 which is around 24.12% greater than its current trading price.
The MACD highlights sellers’ dominance which dragged MPW stock price 10.58% downwards. The RSI is approaching the oversold territory.
The histogram reflects strong seller presence. As per market analysts, MPW stock will continue to fall and chances for a positive momentum are low.
Monolithic Power Systems, Inc. has a market capitalization of $22.463 Billion with a 35.39% uptick in 2023 compared to 2022.
According to the TradingView, 45.261 Million years of Monolithic Power Systems Inc. are free floating and the remaining 5.27% are closely held.
Monolithic Power Systems, Inc. designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for computing and storage, automotive, industrial, communications, and consumer applications markets.
Monolithic Power Systems Inc Financial Updates
The estimated revenue for the second quarter of 2023 was $440.35 Million and reported revenue was one million greater than the estimated revenue.
The estimated EPS of the company was positive $2.80 and the reported EPS was $2.82.
From the reported revenue of 2022 gross profit of the company was 58%, Earnings Before Interest, Taxes, Depreciation, and Amortization (Ebitda) was 32%, Earnings before interest and taxes Ebit was 30% and the net income was 24%.
Long term total liabilities of the company are $133.98 Million and total assets of the company are $655.37 Million.
Monolithic Power Systems Inc. operates primarily in China,Taiwan, South Korea, Europe, United States, South East Asia, Japan among other nations.
Technical Levels
Support Levels: $433.42 & $393.10
Resistance Levels: $501.56 & $5.28
Conclusion:
MPW stock has been profitable in the long term but over the past few weeks MPW stock price has been declining steadily. Market analysts believe that a short term bounce is expected in the coming days.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
