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

Monolithic Power Systems, Inc. (NASDAQ:MPWR) shares were up 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 traded hands during mid-day trading, an increase of 44% from the average daily volume of 540,818 shares. The stock had previously closed at $652.59.

Several other research firms have also recently issued reports on MPWR. Needham & Company LLC restated a “buy” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a report on Thursday. Wells Fargo & Company raised their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen lifted their price objective on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. KeyCorp lifted their price objective on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Oppenheimer lifted their price objective on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Monolithic Power Systems currently has an average rating of “Moderate Buy” and a consensus target price of $716.90.

Insiders Place Their Bets

In other news, insider Deming Xiao sold 859 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the completion of the transaction, the insider now owns 208,580 shares of the company’s stock, valued at $141,834,400. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeff Zhou sold 200 shares of Monolithic Power Systems stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $750.57, for a total transaction of $150,114.00. Following the sale, the director now directly owns 6,269 shares in the company, valued at $4,705,323.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the sale, the insider now owns 208,580 shares in the company, valued at $141,834,400. The disclosure for this sale can be found here. Insiders sold a total of 34,577 shares of company stock valued at $24,033,249 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Monolithic Power Systems by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,464,066 shares of the semiconductor company’s stock worth $3,446,624,000 after acquiring an additional 90,589 shares in the last quarter. FMR LLC raised its holdings in 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 buying an additional 929,009 shares during the period. Franklin Resources Inc. raised its holdings in Monolithic Power Systems by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,830,569 shares of the semiconductor company’s stock worth $1,154,686,000 after buying an additional 43,191 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Monolithic Power Systems by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,056,183 shares of the semiconductor company’s stock worth $666,219,000 after buying an additional 3,105 shares during the period. Finally, Brown Advisory Inc. raised its holdings in Monolithic Power Systems by 4.4% during the 4th quarter. Brown Advisory Inc. now owns 1,028,467 shares of the semiconductor company’s stock worth $648,736,000 after buying an additional 43,225 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Trading Up 10.2 %

The company has a fifty day simple moving average of $679.69 and a 200-day simple moving average of $613.10. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 80.34, a P/E/G ratio of 3.58 and a beta of 1.21.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $454.01 million for the quarter, compared to analysts’ expectations of $452.13 million. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 10.05 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.70%. The ex-dividend date was Wednesday, March 27th. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s payout ratio is 57.08%.

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.