Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $950.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price hoisted by KeyCorp from $940.00 to $950.00 in a report issued on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

MPWR has been the topic of several other reports. Raymond James Financial reiterated an “outperform” rating and set a $720.00 target price (down from $925.00) on shares of Monolithic Power Systems in a report on Friday, May 2nd. Loop Capital lifted their price objective on shares of Monolithic Power Systems from $760.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Citigroup upped their target price on shares of Monolithic Power Systems from $700.00 to $785.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Stifel Nicolaus dropped their price target on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, TD Cowen upped their price objective on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $834.45.

Monolithic Power Systems Stock Up 10.5%

Monolithic Power Systems stock opened at $785.62 on Friday. The firm has a fifty day moving average of $715.35 and a 200-day moving average of $650.95. Monolithic Power Systems has a 52-week low of $438.86 and a 52-week high of $959.64. The firm has a market capitalization of $37.62 billion, a P/E ratio of 20.46, a PEG ratio of 3.12 and a beta of 1.18.

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

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.56 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.24 annualized dividend and a dividend yield of 0.8%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 16.25%.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the transaction, the executive vice president owned 4,015 shares of the company’s stock, valued at $2,814,515. This trade represents a 74.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Theodore Blegen sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 $35,204,250. This trade represents a 11.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,200 shares of company stock valued at $13,046,800. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. WPG Advisers LLC acquired a new stake in shares of Monolithic Power Systems in the first quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in Monolithic Power Systems in the 4th quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL bought a new stake in Monolithic Power Systems during the 2nd quarter valued at $36,000. SouthState Corp acquired a new position in Monolithic Power Systems during the 1st quarter worth $33,000. Finally, Itau Unibanco Holding S.A. boosted its position in Monolithic Power Systems by 637.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 51 shares during the period. 93.46% of the stock is currently owned by institutional investors.

About Monolithic Power Systems

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.