TD Cowen Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $975.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective cut by TD Cowen from $1,100.00 to $975.00 in a report released on Thursday morning, Marketbeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $880.00 price objective on shares of Monolithic Power Systems in a report on Tuesday, October 29th. Raymond James lifted their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. KeyCorp upped their price objective 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. Truist Financial reaffirmed a “buy” rating and set a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $942.40.

Monolithic Power Systems Price Performance

MPWR opened at $759.37 on Thursday. The stock’s 50 day moving average price is $897.06 and its 200 day moving average price is $823.57. The stock has a market cap of $37.02 billion, a P/E ratio of 85.61, a P/E/G ratio of 3.51 and a beta of 1.15. Monolithic Power Systems has a 12 month low of $459.69 and a 12 month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The company had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. Equities analysts anticipate that Monolithic Power Systems will post 10.41 EPS for the current year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.66%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Insiders Place Their Bets

In other news, EVP Deming Xiao sold 859 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $668,637.01. Following the completion of the sale, the executive vice president now owns 202,354 shares in the company, valued at $157,510,330.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Hsing sold 2,790 shares of the business’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 transaction of $2,171,708.10. Following the transaction, the chief executive officer now directly owns 865,332 shares of the company’s stock, valued at approximately $673,565,775.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deming Xiao sold 859 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $668,637.01. Following the completion of the sale, the executive vice president now owns 202,354 shares of the company’s stock, valued at approximately $157,510,330.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,636 shares of company stock worth $36,459,953. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Monolithic Power Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock valued at $3,739,318,000 after purchasing an additional 55,874 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after buying an additional 93,362 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Monolithic Power Systems by 95.1% in the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock valued at $206,712,000 after buying an additional 148,771 shares in the last quarter. Earnest Partners LLC increased its holdings in Monolithic Power Systems by 5.2% in the first quarter. Earnest Partners LLC now owns 290,876 shares of the semiconductor company’s stock worth $197,045,000 after buying an additional 14,327 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Monolithic Power Systems by 14.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 275,979 shares of the semiconductor company’s stock valued at $226,767,000 after acquiring an additional 34,557 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.