Monolithic Power Systems (NASDAQ:MPWR) Hits New 52-Week High After Analyst Upgrade

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s stock price hit a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $925.00 to $1,100.00. TD Cowen currently has a buy rating on the stock. Monolithic Power Systems traded as high as $935.57 and last traded at $930.50, with a volume of 56754 shares changing hands. The stock had previously closed at $904.69.

A number of other brokerages also recently weighed in on MPWR. Truist Financial boosted their price objective on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer upped their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. KeyCorp upped their target price on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Raymond James upped their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Rosenblatt Securities upped their target price on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $912.30.

Insider Activity at Monolithic Power Systems

In related news, CEO Michael Hsing sold 2,790 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $2,171,708.10. Following the completion of the transaction, the chief executive officer now owns 865,332 shares of the company’s stock, valued at approximately $673,565,775.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,416 shares of Monolithic Power Systems stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $731.43, for a total transaction of $1,767,134.88. Following the completion of the sale, the chief financial officer now owns 72,486 shares of the company’s stock, valued at approximately $53,018,434.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Hsing sold 2,790 shares of Monolithic Power Systems stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $2,171,708.10. Following the sale, the chief executive officer now directly owns 865,332 shares of the company’s stock, valued at approximately $673,565,775.48. The disclosure for this sale can be found here. Insiders sold a total of 86,956 shares of company stock valued at $70,200,158 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

A number of institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Monolithic Power Systems by 19.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock valued at $37,583,000 after purchasing an additional 9,125 shares in the last quarter. Weiss Asset Management LP bought a new position in Monolithic Power Systems in the 4th quarter worth $1,899,000. Cim LLC bought a new position in Monolithic Power Systems in the 4th quarter worth $2,197,000. Cetera Investment Advisers raised its holdings in Monolithic Power Systems by 237.3% in the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after acquiring an additional 4,760 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Monolithic Power Systems by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after acquiring an additional 5,335 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Trading Up 3.8 %

The firm’s fifty day moving average price is $833.72 and its 200-day moving average price is $748.52. The company has a market cap of $45.71 billion, a P/E ratio of 107.83, a P/E/G ratio of 3.92 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. The company had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, research analysts forecast that Monolithic Power Systems, Inc. will post 10.37 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 Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.00 annualized dividend and a dividend yield of 0.53%. Monolithic Power Systems’s payout ratio is 59.59%.

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.