Monolithic Power Systems Inc (NASDAQ:MPWR) shares are trading higher by 6.92% to $425.32 Monday afternoon after Truist Securities maintained a Buy on the stock and raised its price target from $432 to $533.

What Else?

Monolithic Power Systems shares are potentially trading higher in sympathy with major indices amid strength in tech stocks. Additionally, Barclays upgraded its ratings on multiple semiconductor stocks. Elliott Management reportedly took a multi-billion dollar stake in Salesforce, lifting market sentiment.

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According to data from Benzinga Pro, MPWR has a 52-week high of $541.39 and a 52-week low of $301.69.