Summit Redstone reiterated their buy rating on shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) in a research note released on Monday morning.

MPWR has been the topic of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $76.00 price objective (up from $68.00) on shares of Monolithic Power Systems in a research note on Wednesday, July 27th. William Blair restated an outperform rating on shares of Monolithic Power Systems in a report on Monday, September 12th. Zacks Investment Research lowered shares of Monolithic Power Systems from a strong-buy rating to a hold rating in a report on Wednesday, July 6th. Finally, Stifel Nicolaus upped their target price on shares of Monolithic Power Systems from $75.00 to $81.00 and gave the company a buy rating in a report on Thursday, July 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $75.00.

Shares of Monolithic Power Systems (NASDAQ:MPWR) traded down 1.60% during midday trading on Monday, hitting $76.86. 176,949 shares of the company’s stock were exchanged. Monolithic Power Systems has a one year low of $55.05 and a one year high of $81.37. The firm has a market cap of $3.11 billion, a PE ratio of 73.97 and a beta of 1.44. The stock’s 50-day moving average price is $77.16 and its 200 day moving average price is $70.04.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.54 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.54. The firm had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $93.08 million. Monolithic Power Systems had a net margin of 12.08% and a return on equity of 12.49%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Monolithic Power Systems will post $2.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Monolithic Power Systems’s payout ratio is currently 76.92%.

In other Monolithic Power Systems news, CEO Michael Hsing sold 21,094 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $72.66, for a total value of $1,532,690.04. Following the completion of the sale, the chief executive officer now owns 1,208,497 shares of the company’s stock, valued at $87,809,392.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Moyer sold 2,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $79.54, for a total transaction of $159,080.00. Following the completion of the sale, the director now directly owns 884,483 shares of the company’s stock, valued at approximately $70,351,777.82. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of MPWR. State Street Corp increased its stake in shares of Monolithic Power Systems by 1.4% in the first quarter. State Street Corp now owns 848,092 shares of the company’s stock valued at $53,969,000 after buying an additional 11,822 shares during the period. BlackRock Inc. increased its stake in shares of Monolithic Power Systems by 24.2% in the first quarter. BlackRock Inc. now owns 2,569 shares of the company’s stock valued at $164,000 after buying an additional 501 shares during the period. UBS Group AG increased its stake in shares of Monolithic Power Systems by 412.2% in the first quarter. UBS Group AG now owns 18,702 shares of the company’s stock valued at $1,190,000 after buying an additional 15,051 shares during the period. Renaissance Technologies LLC increased its stake in shares of Monolithic Power Systems by 57.2% in the first quarter. Renaissance Technologies LLC now owns 693,286 shares of the company’s stock valued at $44,121,000 after buying an additional 252,200 shares during the period. Finally, HL Financial Services LLC increased its stake in shares of Monolithic Power Systems by 8.8% in the second quarter. HL Financial Services LLC now owns 42,297 shares of the company’s stock valued at $2,890,000 after buying an additional 3,421 shares during the period. 97.67% of the stock is owned by institutional investors.

About Monolithic Power Systems

Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company provides power solutions for systems found in industrial applications, telecommunication infrastructures, cloud computing, automotive and consumer applications.

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