Monolithic Power Systems (NASDAQ:MPWR) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $800.00 price objective on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on MPWR. TD Cowen lifted their price objective 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. KeyCorp increased their price objective on shares of Monolithic Power Systems to $850.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Oppenheimer boosted their target price on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $716.90.

Monolithic Power Systems Stock Down 0.8 %

Shares of MPWR traded down $5.67 during mid-day trading on Thursday, reaching $707.22. The company had a trading volume of 585,707 shares, compared to its average volume of 544,973. The stock has a market capitalization of $34.41 billion, a P/E ratio of 84.29, a PEG ratio of 3.78 and a beta of 1.22. Monolithic Power Systems has a 52-week low of $383.19 and a 52-week high of $778.15. The stock has a 50 day moving average of $678.85 and a two-hundred day moving average of $616.32.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data 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 company had revenue of $454.01 million during the quarter, compared to analysts’ expectations of $452.13 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. On average, sell-side analysts expect that Monolithic Power Systems will post 10.05 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 59.59%.

Insider Activity

In related news, CFO Theodore Blegen sold 728 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $680.00, for a total value of $495,040.00. Following the completion of the transaction, the chief financial officer now directly owns 83,173 shares in the company, valued at $56,557,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Monolithic Power Systems news, CFO Theodore Blegen sold 728 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $495,040.00. Following the completion of the transaction, the chief financial officer now owns 83,173 shares of the company’s stock, valued at $56,557,640. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the sale, the insider now owns 208,580 shares of the company’s stock, valued at $141,834,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,077 shares of company stock valued at $30,986,274. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC acquired a new stake in shares of Monolithic Power Systems in the first quarter valued at $27,000. OFI Invest Asset Management purchased a new position in Monolithic Power Systems during the 1st quarter valued at about $31,000. Arlington Trust Co LLC grew its position in Monolithic Power Systems by 56.1% in the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Operose Advisors LLC purchased a new stake in Monolithic Power Systems during the third quarter worth about $43,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Monolithic Power Systems during the fourth quarter worth about $43,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.