Monolithic Power Systems (NASDAQ:MPWR) Shares Up 10.2% Following Analyst Upgrade

Monolithic Power Systems, Inc. (NASDAQ:MPWR - Get Free Report)'s stock price rose 10.2% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $789.00 to $799.00. Truist Financial currently has a buy rating on the stock. Monolithic Power Systems traded as high as $719.06 and last traded at $719.06. Approximately 777,292 shares changed hands during trading, an increase of 44% from the average daily volume of 540,818 shares. The stock had previously closed at $652.59.

A number of other equities analysts have also weighed in on MPWR. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research report on Thursday. Oppenheimer increased their price target on Monolithic Power Systems from $600.00 to $700.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Wells Fargo & Company increased their price target on Monolithic Power Systems from $715.00 to $725.00 and gave the company an "overweight" rating in a research report on Thursday. TD Cowen increased their price target on Monolithic Power Systems from $650.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. Finally, KeyCorp increased their price target on Monolithic Power Systems to $850.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems currently has an average rating of "Moderate Buy" and an average target price of $716.90.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $750.57, for a total transaction of $150,114.00. Following the completion of the sale, the director now directly owns 6,269 shares in the company, valued at approximately $4,705,323.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $750.57, for a total transaction of $150,114.00. Following the completion of the sale, the director now directly owns 6,269 shares in the company, valued at approximately $4,705,323.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kuo Wei Herbert Chang sold 250 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $750.00, for a total value of $187,500.00. Following the sale, the director now owns 1,391 shares of the company's stock, valued at $1,043,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,577 shares of company stock worth $24,033,249. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MPWR. FMR LLC raised its stake in shares of Monolithic Power Systems by 35.0% during the 3rd quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company's stock worth $1,655,717,000 after purchasing an additional 929,009 shares in the last quarter. Norges Bank purchased a new stake in shares of Monolithic Power Systems during the 4th quarter worth about $362,477,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Monolithic Power Systems by 87.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 387,523 shares of the semiconductor company's stock worth $179,036,000 after purchasing an additional 180,500 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Monolithic Power Systems by 95.1% during the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company's stock worth $206,712,000 after purchasing an additional 148,771 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Monolithic Power Systems by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,373,477 shares of the semiconductor company's stock valued at $2,482,546,000 after acquiring an additional 123,946 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Stock Performance

The stock has a 50 day moving average of $679.13 and a two-hundred day moving average of $613.79. The firm has a market capitalization of $34.70 billion, a P/E ratio of 81.38, a P/E/G ratio of 3.58 and a beta of 1.21.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.21 by ($0.17). Monolithic Power Systems had a net margin of 23.47% and a return on equity of 22.66%. The company had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. Sell-side analysts predict that Monolithic Power Systems, Inc. will post 10.05 EPS for the current year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from Monolithic Power Systems's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Wednesday, March 27th. Monolithic Power Systems's dividend payout ratio (DPR) is presently 57.08%.

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.