Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $940.00

Monolithic Power Systems (NASDAQ:MPWR - Free Report) had its target price hoisted by KeyCorp from $820.00 to $940.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company's stock.

Other equities analysts have also recently issued reports about the company. Citigroup upped their price objective on Monolithic Power Systems from $700.00 to $785.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research report on Friday, March 21st. Rosenblatt Securities reissued a "neutral" rating and set a $644.00 price target on shares of Monolithic Power Systems in a report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $800.00 price target on shares of Monolithic Power Systems in a report on Friday, May 2nd. Finally, Stifel Nicolaus lowered 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $799.42.

Monolithic Power Systems Trading Down 0.4%

Shares of MPWR stock traded down $2.76 during midday trading on Tuesday, reaching $737.70. 223,719 shares of the stock were exchanged, compared to its average volume of 803,321. Monolithic Power Systems has a 1 year low of $438.86 and a 1 year high of $959.64. The company's 50 day moving average is $699.65 and its two-hundred day moving average is $637.34. The firm has a market cap of $35.32 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.20.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The firm had revenue of $637.55 million for the quarter, compared to analysts' expectations of $633.43 million. During the same period in the previous year, the firm posted $2.81 EPS. The business's revenue for the quarter was up 39.2% compared to the same quarter last year. As a group, equities analysts expect that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.85%. Monolithic Power Systems's payout ratio is 16.56%.

Insider Activity

In related news, CFO Theodore Blegen sold 6,000 shares of the stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kuo Wei Herbert Chang sold 100 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the completion of the transaction, the director directly owned 676 shares of the company's stock, valued at approximately $471,848. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,200 shares of company stock worth $13,046,800 over the last 90 days. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MPWR. OFI Invest Asset Management bought a new position in shares of Monolithic Power Systems in the 4th quarter valued at about $27,000. WPG Advisers LLC bought a new stake in Monolithic Power Systems in the first quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in Monolithic Power Systems in the fourth quarter worth about $29,000. SouthState Corp bought a new stake in Monolithic Power Systems in the first quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. lifted 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 worth $35,000 after purchasing an additional 51 shares during the last quarter. 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.