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

Monolithic Power Systems, Inc. (NASDAQ:MPWR) gapped down prior to trading on Monday . The stock had previously closed at $916.29, but opened at $890.38. Monolithic Power Systems shares last traded at $875.56, with a volume of 103,661 shares trading hands.

Wall Street Analysts Forecast Growth

MPWR has been the topic of a number of recent research reports. Rosenblatt Securities boosted their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC boosted their price objective on Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial reissued a “buy” rating and set a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Raymond James upped their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, TD Cowen raised Monolithic Power Systems to a “strong-buy” rating in a report on Monday, September 16th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $959.90.

Monolithic Power Systems Stock Performance

The stock has a market capitalization of $43.01 billion, a P/E ratio of 104.51, a price-to-earnings-growth ratio of 4.33 and a beta of 1.11. The stock has a 50-day simple moving average of $904.35 and a 200 day simple moving average of $813.37.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results 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 return on equity of 20.24% and a net margin of 21.70%. The business had revenue of $507.40 million for the quarter, compared to analyst estimates of $490.66 million. During the same period last year, the company earned $2.05 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. Equities analysts predict that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is presently 59.59%.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 728 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $566,667.92. Following the sale, the chief financial officer now owns 64,178 shares of the company’s stock, valued at approximately $49,955,513.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Monolithic Power Systems news, CEO Michael Hsing sold 2,790 shares of Monolithic Power Systems stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $2,171,708.10. Following the sale, the chief executive officer now owns 865,332 shares of the company’s stock, valued at $673,565,775.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Theodore Blegen sold 728 shares of Monolithic Power Systems stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the completion of the sale, the chief financial officer now directly owns 64,178 shares in the company, valued at $49,955,513.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,136 shares of company stock valued at $38,591,228. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Several hedge funds have recently modified their holdings of MPWR. Family Firm Inc. bought a new position in shares of Monolithic Power Systems in the 2nd quarter valued at about $25,000. RiverPark Advisors LLC bought a new position in shares of Monolithic Power Systems in the 1st quarter valued at about $27,000. NBC Securities Inc. grew its holdings in Monolithic Power Systems by 433.3% during the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Wolff Wiese Magana LLC grew its holdings in Monolithic Power Systems by 3,400.0% during the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 34 shares during the period. Finally, Atwood & Palmer Inc. bought a new position in Monolithic Power Systems during the second quarter worth about $33,000. 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.