Monolithic Power Systems (NASDAQ:MPWR) Stock Price Down 3.8% – Here’s Why

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s share price was down 3.8% during mid-day trading on Wednesday . The stock traded as low as $559.27 and last traded at $563.32. Approximately 190,330 shares changed hands during trading, a decline of 68% from the average daily volume of 595,976 shares. The stock had previously closed at $585.87.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Loop Capital raised Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a report on Monday. Stifel Nicolaus increased their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, September 27th. KeyCorp cut their target price on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen dropped their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $872.18.

Monolithic Power Systems Trading Up 1.1 %

The business’s fifty day moving average price is $839.56 and its 200 day moving average price is $824.73. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 2.79 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $600.10 million. As a group, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio is presently 56.37%.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deming Xiao sold 9,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total value of $8,796,050.00. Following the completion of the sale, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at $19,432,250. This represents a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,359 shares of company stock valued at $26,709,571. 3.70% of the stock is owned by company insiders.

Institutional Trading of Monolithic Power Systems

Several hedge funds and other institutional investors have recently made changes to their positions in MPWR. Geode Capital Management LLC increased its holdings in Monolithic Power Systems by 11.2% during 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 in the last quarter. Executive Wealth Management LLC acquired a new stake in shares of Monolithic Power Systems in the third quarter valued at approximately $370,000. Barclays PLC increased its stake in shares of Monolithic Power Systems by 5.0% during the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after purchasing an additional 15,350 shares in the last quarter. EWA LLC raised its position in shares of Monolithic Power Systems by 7.3% during the 3rd quarter. EWA LLC now owns 366 shares of the semiconductor company’s stock worth $338,000 after purchasing an additional 25 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in Monolithic Power Systems by 29.8% in the 3rd quarter. Groupama Asset Managment now owns 4,024 shares of the semiconductor company’s stock valued at $3,720,000 after buying an additional 924 shares in the last quarter. Institutional investors and hedge funds 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.