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Monolithic Power Systems Inc (MPWR)



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Upturn Advisory Summary
08/28/2025: MPWR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $843.23
1 Year Target Price $843.23
10 | Strong Buy |
2 | Buy |
5 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 31.11% | Avg. Invested days 46 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 41.49B USD | Price to earnings Ratio 22.47 | 1Y Target Price 843.23 |
Price to earnings Ratio 22.47 | 1Y Target Price 843.23 | ||
Volume (30-day avg) 17 | Beta 1.18 | 52 Weeks Range 437.93 - 947.45 | Updated Date 08/28/2025 |
52 Weeks Range 437.93 - 947.45 | Updated Date 08/28/2025 | ||
Dividends yield (FY) 0.65% | Basic EPS (TTM) 38.2 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-07-30 | When After Market | Estimate 4.11 | Actual 4.21 |
Profitability
Profit Margin 73.17% | Operating Margin (TTM) 24.79% |
Management Effectiveness
Return on Assets (TTM) 12.48% | Return on Equity (TTM) 66.5% |
Valuation
Trailing PE 22.47 | Forward PE 49.02 | Enterprise Value 39983227320 | Price to Sales(TTM) 16.31 |
Enterprise Value 39983227320 | Price to Sales(TTM) 16.31 | ||
Enterprise Value to Revenue 15.72 | Enterprise Value to EBITDA 56.72 | Shares Outstanding 47892000 | Shares Floating 46251220 |
Shares Outstanding 47892000 | Shares Floating 46251220 | ||
Percent Insiders 3.29 | Percent Institutions 101.43 |
Upturn AI SWOT
Monolithic Power Systems Inc

Company Overview
History and Background
Monolithic Power Systems Inc (MPS) was founded in 1997 by Michael Hsing. It focuses on high-performance power solutions. Initial milestones involved developing high-efficiency DC-DC converters. The company has expanded into various power management markets through innovation and acquisitions.
Core Business Areas
- DC-DC Power Solutions: MPS designs, develops, and markets monolithic power solutions focusing on DC-DC converters, targeting industrial, automotive, computing, communications, and consumer applications.
- Lighting Control: MPS offers lighting control ICs and solutions used in LED lighting applications, ranging from backlighting in displays to general illumination.
- Motor Control: Motor control integrated circuits, mainly for industrial applications and consumer applications like power tools.
Leadership and Structure
Michael Hsing is the Chairman, President, and CEO. The company has a typical corporate structure with departments for R&D, sales, marketing, operations, and finance.
Top Products and Market Share
Key Offerings
- DC-DC Converters: MPS's DC-DC converters are used in various applications. Estimates show a market share of around 5-8% in the broader DC-DC converter market, competing with Texas Instruments and Analog Devices. Revenue from DC-DC converters is estimated at 75% of total revenues.
- LED Drivers: MPS's LED drivers are used in displays and general lighting. Its market share is smaller, roughly around 3-5% within the larger LED driver market. Competitors in the LED market are Infineon and STMicroelectronics.
Market Dynamics
Industry Overview
The power management IC market is characterized by intense competition and technological innovation. Growth is driven by the increasing demand for energy efficiency and portable devices. Key trends include integration, miniaturization, and higher power densities.
Positioning
MPS is positioned as a high-performance analog and mixed-signal semiconductor company focused on energy efficiency and integration. Its competitive advantage lies in its proprietary process technology and innovative circuit designs.
Total Addressable Market (TAM)
The power management IC market is expected to be worth more than $40 billion. MPS has increased its market capitalization and is well positioned to serve this market.
Upturn SWOT Analysis
Strengths
- Proprietary process technology
- High-efficiency products
- Strong R&D capabilities
- Experienced management team
- Growing revenue
Weaknesses
- Concentrated revenue stream by business
- Smaller scale compared to industry giants
- Limited brand recognition
- Vulnerable to economic cycles
Opportunities
- Expansion into new markets (e.g., electric vehicles)
- Increasing demand for energy-efficient solutions
- Strategic acquisitions
- Growth in emerging economies
Threats
- Intense competition
- Technological obsolescence
- Economic downturns
- Supply chain disruptions
- Fluctuations in raw material prices
Competitors and Market Share
Key Competitors
- TXN
- ADI
- ON
Competitive Landscape
MPS competes primarily on product performance, efficiency, and integration. It has an advantage in certain niche markets due to its proprietary technology. However, its size is small compared to larger competitors such as TXN and ADI.
Major Acquisitions
Axelgaard Manufacturing Co., Ltd.
- Year: 2023
- Acquisition Price (USD millions): 144.8
- Strategic Rationale: Expands the company's reach into new markets and adds complementary capabilities.
Growth Trajectory and Initiatives
Historical Growth: MPS has experienced strong revenue growth over the past decade, driven by increasing demand for its power management solutions.
Future Projections: Analysts project continued revenue growth for MPS, driven by new product introductions and market expansion. Future guidance is dynamic and should be pulled from a current financial source.
Recent Initiatives: Recent initiatives include expanding its product portfolio, targeting the automotive market, and investing in R&D.
Summary
Monolithic Power Systems is a strong power management company specializing in DC-DC converters and LED drivers. It has experienced significant revenue growth and boasts proprietary technology that provides a competitive edge. Its smaller scale compared to competitors is a disadvantage. Focusing on strategic acquisitions and expansion into new markets would be beneficial for further growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Analyst reports
- Industry publications
- Third-party financial data providers
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market data and analyst estimates are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Monolithic Power Systems Inc
Exchange NASDAQ | Headquaters Kirkland, WA, United States | ||
IPO Launch date 2004-11-19 | Founder, Chairman, President & CEO Mr. Michael R. Hsing | ||
Sector Technology | Industry Semiconductors | Full time employees 4017 | Website https://www.monolithicpower.com |
Full time employees 4017 | Website https://www.monolithicpower.com |
Monolithic Power Systems, Inc. designs, develops, markets, and sells semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets in the United States, China, Taiwan, South Korea, Europe, Southeast Asia, Japan, and internationally. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based and on-premises CPU servers, server artificial intelligence applications, storage applications, notebooks, infotainment, workstation applications, power sources, home appliances, and network infrastructure and satellite communications applications. It also offers alternating current to DC, driver metal-oxide-semiconductor field-effect transistor, power management ICs, current limit switch, and lighting control products. The company sells its products through third-party distributors, value-added resellers, end customers and other resellers, original design manufacturers, and original equipment manufacturers. Monolithic Power Systems, Inc. was incorporated in 1997 and is headquartered in Kirkland, Washington.

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