Monolithic Power Systems (NASDAQ:MPWR) Shares Gap Up – Here’s What Happened

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $904.94, but opened at $938.37. Monolithic Power Systems shares last traded at $934.54, with a volume of 43,483 shares traded.

Analyst Ratings Changes

MPWR has been the subject of several analyst reports. Raymond James increased their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp lifted their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen upgraded Monolithic Power Systems to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Truist Financial restated a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $959.90.

Monolithic Power Systems Stock Performance

The stock has a market capitalization of $44.60 billion, a PE ratio of 109.21, a price-to-earnings-growth ratio of 4.33 and a beta of 1.11. The business’s 50-day moving average price is $902.98 and its 200 day moving average price is $807.88.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $507.40 million during the quarter, compared to the consensus estimate of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. As a group, equities research analysts predict that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s payout ratio is 59.59%.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now directly owns 103,829 shares in the company, valued at approximately $96,518,400.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,580 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $831.58, for a total transaction of $2,145,476.40. Following the transaction, the chief financial officer now directly owns 67,406 shares of the company’s stock, valued at approximately $56,053,481.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the sale, the executive vice president now owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,535 shares of company stock valued at $51,396,728. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Monolithic Power Systems by 1.0% during 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 buying an additional 55,874 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Monolithic Power Systems by 4.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 483,812 shares of the semiconductor company’s stock worth $327,743,000 after acquiring an additional 22,725 shares during the last quarter. Van ECK Associates Corp grew its position in Monolithic Power Systems by 10.4% during the 2nd quarter. Van ECK Associates Corp now owns 354,461 shares of the semiconductor company’s stock worth $291,254,000 after acquiring an additional 33,287 shares during the last quarter. BNP Paribas Financial Markets increased its stake in 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 worth $206,712,000 after purchasing an additional 148,771 shares during the period. Finally, Earnest Partners LLC lifted its position 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 valued at $197,045,000 after purchasing an additional 14,327 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.