Monolithic Power Systems (NASDAQ:MPWR) Given New $710.00 Price Target at Wells Fargo & Company

Monolithic Power Systems (NASDAQ:MPWR) had its price objective hoisted by Wells Fargo & Company from $610.00 to $710.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

Several other research analysts have also weighed in on MPWR. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $880.00 target price on shares of Monolithic Power Systems in a research report on Thursday. Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective on the stock in a report on Monday, November 18th. KeyCorp lifted their price objective on Monolithic Power Systems from $700.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen dropped their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC lifted their price target on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $866.17.

Monolithic Power Systems Price Performance

MPWR opened at $720.25 on Friday. Monolithic Power Systems has a 12 month low of $546.71 and a 12 month high of $959.64. The business has a 50-day moving average of $615.56 and a two-hundred day moving average of $755.86. The stock has a market capitalization of $35.13 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 22.49%. Equities research analysts anticipate that Monolithic Power Systems will post 13 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.56 per share. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, March 31st. This represents a $6.24 annualized dividend and a yield of 0.87%. Monolithic Power Systems’s payout ratio is 13.60%.

Insiders Place Their Bets

In other news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the sale, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at approximately $32,066,400. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. boosted its stake in shares of Monolithic Power Systems by 6.6% during the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock valued at $16,259,000 after buying an additional 1,082 shares during the last quarter. EULAV Asset Management boosted its stake in Monolithic Power Systems by 8.6% during the 3rd quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock valued at $100,099,000 after acquiring an additional 8,600 shares during the last quarter. Paragon Advisors LLC grew its holdings in Monolithic Power Systems by 140.6% during the 4th quarter. Paragon Advisors LLC now owns 5,128 shares of the semiconductor company’s stock worth $3,034,000 after acquiring an additional 2,997 shares in the last quarter. Empowered Funds LLC increased its position in shares of Monolithic Power Systems by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock worth $3,741,000 after purchasing an additional 909 shares during the last quarter. Finally, Perpetual Ltd raised its stake in shares of Monolithic Power Systems by 1,042.4% in the 4th quarter. Perpetual Ltd now owns 2,936 shares of the semiconductor company’s stock valued at $1,737,000 after purchasing an additional 2,679 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.