Needham & Company LLC Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $1,000.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target raised by Needham & Company LLC from $800.00 to $1,000.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on MPWR. Oppenheimer upped their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an outperform rating in a report on Thursday, June 13th. Truist Financial upped their price target on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a buy rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. KeyCorp upped their price target on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Finally, Rosenblatt Securities upped their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a buy rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $882.30.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $843.52 on Monday. The firm’s 50-day moving average is $811.54 and its 200-day moving average is $731.66. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 100.54, a PEG 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 earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. The company had revenue of $507.40 million for the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. Monolithic Power Systems’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. Sell-side analysts predict that Monolithic Power Systems will post 10.37 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.59%. Monolithic Power Systems’s payout ratio is presently 59.59%.

Insiders Place Their Bets

In other Monolithic Power Systems news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $731.08, for a total transaction of $5,848,640.00. Following the transaction, the chief executive officer now owns 880,408 shares in the company, valued at approximately $643,648,680.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Victor K. Lee sold 1,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $820.46, for a total transaction of $820,460.00. Following the sale, the director now owns 29,232 shares in the company, valued at approximately $23,983,686.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $731.08, for a total transaction of $5,848,640.00. Following the sale, the chief executive officer now owns 880,408 shares in the company, valued at approximately $643,648,680.64. The disclosure for this sale can be found here. Insiders have sold a total of 84,279 shares of company stock worth $68,090,365 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

Several large investors have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its position in shares of Monolithic Power Systems by 3.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 326 shares of the semiconductor company’s stock worth $268,000 after acquiring an additional 12 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Monolithic Power Systems by 0.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 1,831 shares of the semiconductor company’s stock valued at $1,153,000 after purchasing an additional 14 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Monolithic Power Systems by 23.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 15 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Monolithic Power Systems by 2.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 558 shares of the semiconductor company’s stock valued at $458,000 after purchasing an additional 15 shares during the last quarter. Finally, American National Bank lifted its stake in Monolithic Power Systems by 1.5% in the 4th quarter. American National Bank now owns 1,060 shares of the semiconductor company’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.