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

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s stock price shot up 10.2% 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. 777,292 shares changed hands during trading, an increase of 44% from the average session volume of 540,818 shares. The stock had previously closed at $652.59.

MPWR has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research report on Thursday. Wells Fargo & Company upped their price objective on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upped their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Oppenheimer upped their price objective on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, KeyCorp upped their price objective on Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $716.90.

Insiders Place Their Bets

In other news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $677.44, for a total value of $5,419,520.00. Following the completion of the sale, the chief executive officer now owns 899,232 shares of the company’s stock, valued at $609,175,726.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $677.44, for a total value of $5,419,520.00. Following the completion of the sale, the chief executive officer now owns 899,232 shares of the company’s stock, valued at $609,175,726.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maurice Sciammas sold 11,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $681.83, for a total value of $7,500,130.00. Following the completion of the sale, the executive vice president now directly owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. 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 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in Monolithic Power Systems by 36.0% during the first quarter. Jennison Associates LLC now owns 707 shares of the semiconductor company’s stock worth $479,000 after purchasing an additional 187 shares during the period. FORA Capital LLC grew its stake in Monolithic Power Systems by 746.8% during the first quarter. FORA Capital LLC now owns 9,543 shares of the semiconductor company’s stock worth $6,465,000 after purchasing an additional 8,416 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Monolithic Power Systems by 9.8% in the first quarter. Daiwa Securities Group Inc. now owns 5,628 shares of the semiconductor company’s stock worth $3,813,000 after acquiring an additional 504 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Monolithic Power Systems by 25.8% in the first quarter. Nordea Investment Management AB now owns 3,759 shares of the semiconductor company’s stock worth $2,566,000 after acquiring an additional 771 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Monolithic Power Systems in the first quarter worth approximately $98,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

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

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.17). The firm had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. Monolithic Power Systems had a return on equity of 22.66% and a net margin of 23.47%. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $1.25 per share. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, March 27th. Monolithic Power Systems’s dividend payout ratio (DPR) 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.