Needham & Company LLC Reiterates Buy Rating for Monolithic Power Systems (NASDAQ:MPWR)

Needham & Company LLC reissued their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR - Free Report) in a research note released on Friday,Benzinga reports. The brokerage currently has a $800.00 price target on the semiconductor company's stock.

A number of other research analysts have also recently weighed in on MPWR. Wells Fargo & Company cut their price objective on shares of Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Citigroup cut their price target on Monolithic Power Systems from $800.00 to $615.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their price target on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Oppenheimer reissued an "outperform" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a report on Friday, March 21st. Finally, Rosenblatt Securities reduced their target price on Monolithic Power Systems from $800.00 to $750.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $779.83.

Monolithic Power Systems Stock Up 5.9 %

Shares of MPWR stock traded up $35.26 on Friday, hitting $636.89. The company had a trading volume of 1,651,567 shares, compared to its average volume of 780,325. Monolithic Power Systems has a twelve month low of $438.86 and a twelve month high of $959.64. The firm has a market cap of $30.49 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 2.60 and a beta of 1.18. The company has a 50-day moving average price of $570.60 and a 200-day moving average price of $628.90.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. The company had revenue of $637.55 million during the quarter, compared to the consensus estimate of $633.43 million. During the same period in the previous year, the company posted $2.81 earnings per share. Monolithic Power Systems's revenue for the quarter was up 39.2% on a year-over-year basis. Equities research analysts expect that Monolithic Power Systems will post 13.2 EPS for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Monolithic Power Systems's previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 31st. Monolithic Power Systems's dividend payout ratio is 16.56%.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 7,000 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the transaction, the executive vice president now owns 16,015 shares in the company, valued at approximately $11,242,209.70. This trade represents a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company's stock.

Institutional Trading of Monolithic Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. grew its holdings in shares of Monolithic Power Systems by 0.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,200 shares of the semiconductor company's stock valued at $1,893,000 after purchasing an additional 14 shares during the period. WP Advisors LLC grew its stake in shares of Monolithic Power Systems by 3.2% in the 4th quarter. WP Advisors LLC now owns 522 shares of the semiconductor company's stock valued at $309,000 after buying an additional 16 shares during the period. Allworth Financial LP increased its holdings in shares of Monolithic Power Systems by 11.5% during the 4th quarter. Allworth Financial LP now owns 155 shares of the semiconductor company's stock worth $92,000 after buying an additional 16 shares during the last quarter. Beverly Hills Private Wealth LLC increased its holdings 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 worth $370,000 after buying an additional 20 shares during the last quarter. Finally, 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 valued at $74,000 after buying an additional 20 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.