Monolithic Power Systems (NASDAQ:MPWR) Given New $918.00 Price Target at Truist Financial

Monolithic Power Systems (NASDAQ:MPWR) had its target price upped by Truist Financial from $799.00 to $918.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on MPWR. Wells Fargo & Company raised their price target on Monolithic Power Systems from $715.00 to $725.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Rosenblatt Securities boosted their target price on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the stock a buy rating in a report on Monday, July 29th. Oppenheimer boosted their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the stock an outperform rating in a research report on Thursday, June 13th. KeyCorp upped their price objective on shares of Monolithic Power Systems from $850.00 to $975.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Finally, Needham & Company LLC restated a buy rating and set a $800.00 price objective on shares of Monolithic Power Systems in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Monolithic Power Systems presently has an average rating of Moderate Buy and an average price target of $882.30.

Monolithic Power Systems Price Performance

Shares of MPWR traded up $24.59 during mid-day trading on Friday, hitting $795.03. 278,807 shares of the company’s stock were exchanged, compared to its average volume of 534,779. The company has a 50-day simple moving average of $810.38 and a 200 day simple moving average of $729.24. The company has a market cap of $38.70 billion, a PE ratio of 91.83, a P/E/G ratio of 3.92 and a beta of 1.11. Monolithic Power Systems has a 52 week low of $392.10 and a 52 week high of $891.67.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. The firm had revenue of $507.40 million for the quarter, compared to analyst estimates of $490.66 million. During the same period in the previous year, the business earned $2.05 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. On average, analysts anticipate that Monolithic Power Systems will post 10.37 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Friday, June 28th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 59.59%.

Insider Buying and Selling

In other news, Director Kuo Wei Herbert Chang sold 200 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $735.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director now directly owns 941 shares in the company, valued at $691,635. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kuo Wei Herbert Chang sold 200 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $735.00, for a total transaction of $147,000.00. Following the completion of the transaction, the director now owns 941 shares of the company’s stock, valued at $691,635. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Theodore Blegen sold 737 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $689.98, for a total transaction of $508,515.26. Following the completion of the transaction, the chief financial officer now owns 74,986 shares in the company, valued at approximately $51,738,840.28. The disclosure for this sale can be found here. Insiders have sold a total of 88,709 shares of company stock valued at $71,147,068 over the last 90 days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Family Firm Inc. acquired a new position in shares of Monolithic Power Systems during the 2nd quarter valued at $25,000. RiverPark Advisors LLC bought a new stake in Monolithic Power Systems in the first quarter valued at $27,000. OFI Invest Asset Management acquired a new position in shares of Monolithic Power Systems during the first quarter valued at about $31,000. Atwood & Palmer Inc. bought a new position in shares of Monolithic Power Systems during the 2nd quarter worth about $33,000. Finally, Crewe Advisors LLC grew its stake in shares of Monolithic Power Systems by 126.3% in the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 24 shares during the period. 93.46% of the stock is currently owned by institutional investors.

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.