Truist Financial Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $918.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price boosted by Truist Financial from $799.00 to $918.00 in a research report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on MPWR. Wells Fargo & Company increased their target price on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Rosenblatt Securities boosted their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the company a buy rating in a research note on Monday, July 29th. Oppenheimer raised their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an outperform rating in a report on Thursday, June 13th. Needham & Company LLC reaffirmed a buy rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Finally, KeyCorp lifted their target price on shares of Monolithic Power Systems from $850.00 to $975.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems currently has an average rating of Moderate Buy and a consensus price target of $882.30.

Monolithic Power Systems Trading Down 4.0 %

Shares of MPWR traded down $31.94 on Friday, reaching $763.82. 450,462 shares of the company’s stock were exchanged, compared to its average volume of 533,776. The business has a 50 day moving average price of $810.38 and a two-hundred day moving average price of $729.24. The stock has a market capitalization of $37.18 billion, a P/E ratio of 90.30, a price-to-earnings-growth ratio of 3.92 and a beta of 1.11. Monolithic Power Systems has a 12 month low of $392.10 and a 12 month high of $891.67.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.63% and a net margin of 21.70%. The business had revenue of $507.40 million during the quarter, compared to the consensus estimate of $490.66 million. During the same period in the previous year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts predict that Monolithic Power Systems will post 10.37 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Activity

In other Monolithic Power Systems news, CEO Michael Hsing sold 2,824 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $690.00, for a total transaction of $1,948,560.00. Following the completion of the transaction, the chief executive officer now owns 888,408 shares in the company, valued at $613,001,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Saria Tseng sold 37,093 shares of Monolithic Power Systems stock in a transaction on Monday, July 1st. The stock was sold at an average price of $808.20, for a total value of $29,978,562.60. Following the transaction, the executive vice president now directly owns 166,428 shares in the company, valued at approximately $134,507,109.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Hsing sold 2,824 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $690.00, for a total transaction of $1,948,560.00. Following the completion of the transaction, the chief executive officer now directly owns 888,408 shares of the company’s stock, valued at $613,001,520. The disclosure for this sale can be found here. Insiders sold a total of 88,709 shares of company stock worth $71,147,068 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its holdings in shares of Monolithic Power Systems by 1.5% during the fourth quarter. Arizona State Retirement System now owns 12,475 shares of the semiconductor company’s stock valued at $7,869,000 after acquiring an additional 184 shares during the last quarter. Private Trust Co. NA increased its stake in Monolithic Power Systems by 145.8% during the fourth quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 70 shares during the period. International Assets Investment Management LLC lifted its position in shares of Monolithic Power Systems by 38,510.1% during the fourth quarter. International Assets Investment Management LLC now owns 76,448 shares of the semiconductor company’s stock worth $48,222,000 after purchasing an additional 76,250 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in Monolithic Power Systems by 57.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,090 shares of the semiconductor company’s stock worth $688,000 after acquiring an additional 398 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in Monolithic Power Systems by 2.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 8,823 shares of the semiconductor company’s stock worth $5,565,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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.