Loop Capital Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $800.00

Monolithic Power Systems (NASDAQ:MPWR - Free Report) had its target price raised by Loop Capital from $760.00 to $800.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company's stock.

A number of other brokerages have also recently issued reports on MPWR. Citigroup raised their target price on Monolithic Power Systems from $700.00 to $785.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wells Fargo & Company raised their price target on Monolithic Power Systems from $695.00 to $730.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Oppenheimer restated an "outperform" rating and set a $800.00 target price (up from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Finally, Stifel Nicolaus cut their price target on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Monolithic Power Systems has an average rating of "Moderate Buy" and a consensus price target of $805.67.

Monolithic Power Systems Price Performance

Shares of MPWR stock traded down $5.95 during trading hours on Wednesday, reaching $707.05. 57,100 shares of the company were exchanged, compared to its average volume of 816,289. The company has a market cap of $33.85 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.86 and a beta of 1.20. The stock's fifty day moving average is $709.87 and its two-hundred day moving average is $644.94. Monolithic Power Systems has a fifty-two week low of $438.86 and a fifty-two week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $4.00 by $0.04. The firm had revenue of $637.55 million during the quarter, compared to analyst estimates of $633.43 million. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The company's revenue was up 39.2% on a year-over-year basis. During the same period last year, the company earned $2.81 earnings per share. On average, research analysts anticipate that Monolithic Power Systems will post 13.2 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.56 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.24 annualized dividend and a yield of 0.88%. Monolithic Power Systems's dividend payout ratio (DPR) is currently 16.56%.

Insiders Place Their Bets

In related news, CFO Theodore Blegen sold 6,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 46,939 shares in the company, valued at approximately $35,204,250. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director directly owned 676 shares of the company's stock, valued at $471,848. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $13,046,800 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds have recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in shares of Monolithic Power Systems during the 1st quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Monolithic Power Systems during the 4th quarter worth approximately $29,000. SouthState Corp bought a new position in Monolithic Power Systems in the first quarter worth approximately $33,000. Itau Unibanco Holding S.A. grew its stake in Monolithic Power Systems by 637.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 51 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Monolithic Power Systems during the second quarter worth approximately $36,000. 93.46% of the stock is 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.