Monolithic Power Systems (NASDAQ:MPWR) Trading 6.7% Higher – Here’s What Happened

Monolithic Power Systems, Inc. (NASDAQ:MPWR) shares were up 6.7% during mid-day trading on Wednesday . The company traded as high as $678.40 and last traded at $681.20. Approximately 119,665 shares traded hands during trading, a decline of 82% from the average daily volume of 678,242 shares. The stock had previously closed at $638.49.

Analysts Set New Price Targets

Several research analysts have commented on the company. Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price for the company in a research note on Monday, November 18th. Truist Financial reaffirmed a “buy” rating and set a $994.00 target price (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Stifel Nicolaus raised 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. Needham & Company LLC decreased their price target on shares of Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average price target of $828.67.

Monolithic Power Systems Trading Up 8.0 %

The company has a market capitalization of $33.64 billion, a P/E ratio of 77.72, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The stock’s fifty day moving average is $598.63 and its 200 day moving average is $772.85.

Monolithic Power Systems (NASDAQ:MPWR) last issued 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). The firm 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%. On average, analysts expect that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.73%. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Insider Activity

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the transaction, the chief financial officer now owns 56,678 shares in the company, valued at approximately $43,809,826.88. This represents a 4.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total transaction of $662,611.24. Following the transaction, the executive vice president now owns 162,239 shares in the company, valued at approximately $124,135,548.46. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,600 shares of company stock valued at $4,656,631. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds have recently made changes to their positions in MPWR. NBC Securities Inc. lifted its position in shares of Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after buying an additional 34 shares during the period. West Oak Capital LLC boosted its holdings in Monolithic Power Systems by 990.9% during the 4th quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 545 shares during the period. Ashton Thomas Securities LLC purchased a new position in Monolithic Power Systems during the 3rd quarter valued at about $36,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Monolithic Power Systems by 410.0% in the 3rd quarter. Rakuten Securities Inc. now owns 51 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Company Profile

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.