Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $725.00 at Wells Fargo & Company

Monolithic Power Systems (NASDAQ:MPWR) had its price target lifted by Wells Fargo & Company from $715.00 to $725.00 in a research note released on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

MPWR has been the topic of several other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $800.00 price target on shares of Monolithic Power Systems in a report on Thursday. Oppenheimer upped their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the company an outperform rating in a report on Friday, February 2nd. KeyCorp lifted their price target on Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Finally, TD Cowen boosted their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $743.78.

Monolithic Power Systems Stock Down 0.8 %

Shares of Monolithic Power Systems stock opened at $707.22 on Thursday. The business has a fifty day simple moving average of $678.85 and a 200-day simple moving average of $617.41. Monolithic Power Systems has a fifty-two week low of $383.19 and a fifty-two week high of $778.15. The firm has a market cap of $34.41 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 3.64 and a beta of 1.22.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results 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). The business had revenue of $454.01 million during the quarter, compared to analyst estimates of $452.13 million. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. Analysts anticipate that Monolithic Power Systems will post 10.05 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s dividend payout ratio (DPR) is 59.59%.

Insider Transactions at Monolithic Power Systems

In related news, Director Jeff Zhou sold 200 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $750.57, for a total value of $150,114.00. Following the transaction, the director now directly owns 6,269 shares in the company, valued at approximately $4,705,323.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $681.83, for a total value of $7,500,130.00. Following the sale, the executive vice president now owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Zhou sold 200 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $750.57, for a total value of $150,114.00. Following the completion of the transaction, the director now directly owns 6,269 shares in the company, valued at $4,705,323.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,077 shares of company stock worth $30,986,274. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of MPWR. RiverPark Advisors LLC acquired a new stake in Monolithic Power Systems in the 1st quarter worth $27,000. OFI Invest Asset Management acquired a new stake in Monolithic Power Systems during the first quarter worth about $31,000. Arlington Trust Co LLC increased its stake in Monolithic Power Systems by 56.1% during the fourth quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 23 shares during the period. Operose Advisors LLC bought a new position in Monolithic Power Systems during the third quarter valued at about $43,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Monolithic Power Systems in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.