Truist Financial Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $799.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price hoisted by Truist Financial from $789.00 to $799.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on MPWR. Oppenheimer boosted their target price on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Needham & Company LLC reaffirmed a buy rating and set a $800.00 target price on shares of Monolithic Power Systems in a research report on Thursday. KeyCorp boosted their price objective on shares of Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a research note on Monday, April 8th. TD Cowen upped 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. Finally, Wells Fargo & Company upped their price target on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an overweight rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $743.78.

Monolithic Power Systems Stock Up 2.8 %

Shares of Monolithic Power Systems stock traded up $20.07 during trading hours on Thursday, hitting $727.29. 121,557 shares of the company’s stock traded hands, compared to its average volume of 541,533. Monolithic Power Systems has a twelve month low of $392.10 and a twelve month high of $778.15. The stock has a 50 day simple moving average of $678.85 and a 200-day simple moving average of $617.41. The company has a market cap of $35.39 billion, a PE ratio of 84.29, a PEG ratio of 3.64 and a beta of 1.22.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.17). The business had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. As a group, equities research analysts predict that Monolithic Power Systems will post 10.05 EPS for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s payout ratio is currently 59.59%.

Insider Transactions at Monolithic Power Systems

In other news, insider Deming Xiao sold 859 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 in the company, valued at approximately $141,834,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Monolithic Power Systems news, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $661.85, for a total transaction of $5,294,800.00. Following the completion of the sale, the chief executive officer now directly owns 891,232 shares in the company, valued at $589,861,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deming Xiao sold 859 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $680.00, for a total transaction of $584,120.00. Following the completion of the transaction, the insider now directly owns 208,580 shares of the company’s stock, valued at approximately $141,834,400. The disclosure for this sale can be found here. Insiders sold a total of 45,077 shares of company stock worth $30,986,274 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Monolithic Power Systems by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 2,851 shares of the semiconductor company’s stock valued at $1,317,000 after acquiring an additional 165 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Monolithic Power Systems by 14.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 5,498 shares of the semiconductor company’s stock valued at $2,540,000 after buying an additional 700 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in Monolithic Power Systems by 3.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 26,856 shares of the semiconductor company’s stock worth $12,407,000 after buying an additional 939 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Monolithic Power Systems by 1.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,723 shares of the semiconductor company’s stock valued at $7,264,000 after acquiring an additional 174 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Monolithic Power Systems by 4.4% in the third quarter. Stratos Wealth Partners LTD. now owns 8,635 shares of the semiconductor company’s stock valued at $3,989,000 after purchasing an additional 361 shares during the last quarter. 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.