Oppenheimer Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $800.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective decreased by Oppenheimer from $900.00 to $800.00 in a research note released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

MPWR has been the subject of a number of other reports. Wells Fargo & Company began coverage on shares of Monolithic Power Systems in a report on Friday, November 22nd. They set an “equal weight” rating and a $610.00 price target for the company. Needham & Company LLC decreased their target price on Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. KeyCorp lowered their target price on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. TD Cowen cut their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective on the stock in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Monolithic Power Systems presently has an average rating of “Moderate Buy” and a consensus price target of $820.33.

Monolithic Power Systems Stock Performance

MPWR opened at $637.37 on Friday. The stock has a 50-day moving average of $609.43 and a 200-day moving average of $761.13. Monolithic Power Systems has a 52-week low of $546.71 and a 52-week high of $959.64. The company has a market cap of $31.09 billion, a PE ratio of 71.86, a price-to-earnings-growth ratio of 2.37 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The company had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. On average, research analysts predict that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, December 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Insider Activity at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer now owns 53,444 shares of the company’s stock, valued at approximately $32,066,400. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deming Xiao sold 866 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the transaction, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,100 shares of company stock valued at $2,724,231 over the last quarter. 3.70% of the stock is owned by company insiders.

Institutional Trading of Monolithic Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its holdings in Monolithic Power Systems by 10.8% during the 2nd quarter. Creative Planning now owns 5,818 shares of the semiconductor company’s stock worth $4,780,000 after acquiring an additional 566 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Monolithic Power Systems by 5.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 825 shares of the semiconductor company’s stock worth $676,000 after purchasing an additional 45 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Monolithic Power Systems by 4.0% during the second quarter. Cetera Investment Advisers now owns 7,038 shares of the semiconductor company’s stock valued at $5,784,000 after purchasing an additional 272 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Monolithic Power Systems in the second quarter valued at approximately $3,292,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Monolithic Power Systems by 20.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 255 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 43 shares during the last quarter. 93.46% of the stock is currently 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.