Monolithic Power Systems (NASDAQ:MPWR) Shares Gap Up to $611.37

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $611.37, but opened at $636.51. Monolithic Power Systems shares last traded at $638.31, with a volume of 96,559 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Needham & Company LLC lifted their price target on shares of Monolithic Power Systems from $500.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, February 8th. KeyCorp lifted their price target on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Rosenblatt Securities boosted their target price on shares of Monolithic Power Systems from $550.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $670.30.

Monolithic Power Systems Stock Up 4.3 %

The firm has a market capitalization of $31.04 billion, a PE ratio of 73.57, a price-to-earnings-growth ratio of 3.21 and a beta of 1.24. The company’s 50-day simple moving average is $687.40 and its 200 day simple moving average is $606.54.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.17). The firm had revenue of $454.01 million for the quarter, compared to analysts’ expectations of $452.13 million. Monolithic Power Systems had a net margin of 23.47% and a return on equity of 22.66%. On average, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 10.05 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $1.25 dividend. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Wednesday, March 27th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 57.08%.

Insider Activity at Monolithic Power Systems

In related news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $602.01, for a total value of $4,816,080.00. Following the transaction, the chief executive officer now owns 921,774 shares in the company, valued at approximately $554,917,165.74. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $602.01, for a total value of $4,816,080.00. Following the transaction, the chief executive officer now owns 921,774 shares in the company, valued at approximately $554,917,165.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $603.26, for a total transaction of $1,508,150.00. Following the completion of the transaction, the chief financial officer now owns 84,768 shares in the company, valued at approximately $51,137,143.68. The disclosure for this sale can be found here. Insiders sold 45,077 shares of company stock valued at $30,357,479 in the last three months. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPWR. Huntington National Bank boosted its stake in Monolithic Power Systems by 5.6% during the 3rd quarter. Huntington National Bank now owns 657 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 35 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Monolithic Power Systems by 8.6% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 196,781 shares of the semiconductor company’s stock worth $90,913,000 after purchasing an additional 15,609 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Monolithic Power Systems by 36.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 47,500 shares of the semiconductor company’s stock worth $21,945,000 after purchasing an additional 12,600 shares during the last quarter. Czech National Bank boosted its stake in Monolithic Power Systems by 0.5% during the 4th quarter. Czech National Bank now owns 8,391 shares of the semiconductor company’s stock worth $5,293,000 after purchasing an additional 41 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Monolithic Power Systems by 19.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 461,087 shares of the semiconductor company’s stock worth $290,844,000 after purchasing an additional 73,564 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.