Monolithic Power Systems’ (MPWR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $950.00 price objective on the semiconductor company’s stock.

Several other brokerages have also issued reports on MPWR. Loop Capital started coverage on Monolithic Power Systems in a research report on Monday, November 11th. They issued a “hold” rating and a $660.00 price objective for the company. TD Cowen cut their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their target price on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. KeyCorp boosted their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Rosenblatt Securities downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $916.73.

Monolithic Power Systems Trading Down 0.6 %

Shares of NASDAQ MPWR opened at $573.38 on Tuesday. The firm has a market capitalization of $27.97 billion, a PE ratio of 64.64, a price-to-earnings-growth ratio of 2.86 and a beta of 1.15. The firm’s 50-day moving average is $856.47 and its 200-day moving average is $826.00. Monolithic Power Systems has a 1 year low of $532.86 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. As a group, equities research analysts anticipate that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Insider Activity at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 734 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.15, for a total value of $561,620.10. Following the completion of the sale, the chief financial officer now directly owns 55,944 shares of the company’s stock, valued at $42,805,551.60. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deming Xiao sold 9,259 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total value of $8,796,050.00. Following the transaction, the executive vice president now directly owns 20,455 shares in the company, valued at $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,359 shares of company stock valued at $36,209,571. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after acquiring an additional 133,838 shares during the period. Executive Wealth Management LLC bought a new stake in Monolithic Power Systems in the 3rd quarter valued at $370,000. Barclays PLC boosted its stake in Monolithic Power Systems by 5.0% in the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock valued at $297,799,000 after purchasing an additional 15,350 shares during the period. EWA LLC grew its holdings in Monolithic Power Systems by 7.3% in the 3rd quarter. EWA LLC now owns 366 shares of the semiconductor company’s stock valued at $338,000 after buying an additional 25 shares in the last quarter. Finally, Groupama Asset Managment increased its position in Monolithic Power Systems by 29.8% during the 3rd quarter. Groupama Asset Managment now owns 4,024 shares of the semiconductor company’s stock worth $3,720,000 after buying an additional 924 shares during the period. 93.46% of the stock is currently 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.