KeyCorp Forecasts Strong Price Appreciation for Monolithic Power Systems (NASDAQ:MPWR) Stock

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

MPWR has been the subject of a number of other research reports. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $644.00 price objective on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $720.00 price objective (down previously from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. TD Cowen raised their target price on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Oppenheimer reaffirmed an "outperform" rating and set a $800.00 price target on shares of Monolithic Power Systems in a research report on Friday, March 21st. Finally, Wells Fargo & Company lifted their price target on shares of Monolithic Power Systems from $665.00 to $695.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $799.42.

Monolithic Power Systems Stock Up 2.7%

Shares of MPWR traded up $20.14 during trading hours on Tuesday, reaching $761.31. 504,198 shares of the company traded hands, compared to its average volume of 804,493. The stock has a market capitalization of $36.45 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.94 and a beta of 1.20. The stock has a fifty day simple moving average of $693.72 and a 200 day simple moving average of $635.69. 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 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. The business had revenue of $637.55 million during the quarter, compared to the consensus estimate of $633.43 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The company's quarterly revenue was up 39.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 earnings per share. Research analysts predict that Monolithic Power Systems will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 0.82%. The ex-dividend date is Monday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is presently 16.56%.

Insiders Place Their Bets

In other news, Director Kuo Wei Herbert Chang sold 100 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the completion of the sale, the director owned 676 shares in the company, valued at approximately $471,848. This trade represents a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maurice Sciammas sold 12,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $701.00, for a total value of $8,412,000.00. Following the completion of the transaction, the executive vice president owned 4,015 shares of the company's stock, valued at approximately $2,814,515. This represents a 74.93% 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 worth $13,046,800 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Large investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its holdings in Monolithic Power Systems by 0.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,200 shares of the semiconductor company's stock worth $1,893,000 after purchasing an additional 14 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in shares of Monolithic Power Systems by 3.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 638 shares of the semiconductor company's stock valued at $370,000 after buying an additional 20 shares during the last quarter. Cromwell Holdings LLC raised its position in shares of Monolithic Power Systems by 18.7% during the 1st quarter. Cromwell Holdings LLC now owns 127 shares of the semiconductor company's stock worth $74,000 after purchasing an additional 20 shares during the period. Burney Co. lifted its holdings in shares of Monolithic Power Systems by 2.2% in the 1st quarter. Burney Co. now owns 946 shares of the semiconductor company's stock worth $549,000 after purchasing an additional 20 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in Monolithic Power Systems by 5.0% during the 4th quarter. Truvestments Capital LLC now owns 462 shares of the semiconductor company's stock valued at $273,000 after purchasing an additional 22 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

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.