Monolithic Power Systems’ (MPWR) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial reaffirmed their outperform rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note published on Friday morning,Benzinga reports. Raymond James Financial currently has a $875.00 price objective on the semiconductor company’s stock, up from their previous price objective of $720.00.

MPWR has been the subject of a number of other research reports. Loop Capital upped their price target on Monolithic Power Systems from $760.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. TD Cowen upped their target price on Monolithic Power Systems from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Oppenheimer reissued an “outperform” rating and issued a $800.00 price target (up previously from $700.00) on shares of Monolithic Power Systems in a research note on Tuesday, July 15th. Citigroup upped their price objective on shares of Monolithic Power Systems from $700.00 to $785.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $800.00 to $820.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems presently has an average rating of “Moderate Buy” and a consensus price target of $834.45.

Monolithic Power Systems Price Performance

MPWR opened at $785.62 on Friday. The firm has a fifty day moving average price of $715.35 and a 200 day moving average price of $650.95. Monolithic Power Systems has a 1 year low of $438.86 and a 1 year high of $959.64. The stock has a market cap of $37.62 billion, a P/E ratio of 20.46, a P/E/G ratio of 3.12 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.09. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. The company had revenue of $664.57 million during the quarter, compared to analysts’ expectations of $648.74 million. During the same quarter in the previous year, the company earned $3.17 earnings per share. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. Equities analysts expect that Monolithic Power Systems will post 13.2 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Monolithic Power Systems’s dividend payout ratio is currently 16.25%.

Insider Buying and Selling at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief financial officer owned 46,939 shares of the company’s stock, valued at approximately $35,204,250. This trade represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the transaction, the director owned 676 shares in the company, valued at approximately $471,848. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,200 shares of company stock worth $13,046,800. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in shares of Monolithic Power Systems by 21.7% in the second quarter. Jennison Associates LLC now owns 50,684 shares of the semiconductor company’s stock valued at $37,069,000 after purchasing an additional 9,045 shares during the period. New York Life Investment Management LLC boosted its holdings in Monolithic Power Systems by 1.2% in the 2nd quarter. New York Life Investment Management LLC now owns 7,144 shares of the semiconductor company’s stock valued at $5,225,000 after purchasing an additional 84 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Monolithic Power Systems by 7.7% in the 2nd quarter. Motley Fool Asset Management LLC now owns 1,308 shares of the semiconductor company’s stock valued at $957,000 after buying an additional 94 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Monolithic Power Systems by 32.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,998 shares of the semiconductor company’s stock valued at $10,238,000 after buying an additional 3,400 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Monolithic Power Systems by 15.0% during the 2nd quarter. Bessemer Group Inc. now owns 788 shares of the semiconductor company’s stock valued at $576,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. 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 CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.