Monolithic Power Systems (NASDAQ:MPWR) Given New $880.00 Price Target at Rosenblatt Securities

Monolithic Power Systems (NASDAQ:MPWR) had its price target hoisted by Rosenblatt Securities from $800.00 to $880.00 in a research note issued to investors on Monday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. KeyCorp raised their price target on shares of Monolithic Power Systems from $850.00 to $975.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Wells Fargo & Company raised their target price on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Truist Financial raised their target price on shares of Monolithic Power Systems from $789.00 to $799.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a buy rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Finally, Oppenheimer raised their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an outperform rating in a research report on Thursday, June 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Monolithic Power Systems has a consensus rating of Moderate Buy and an average target price of $822.38.

Monolithic Power Systems Stock Up 10.4 %

Shares of Monolithic Power Systems stock opened at $863.09 on Monday. The firm has a market cap of $42.02 billion, a PE ratio of 102.87, a price-to-earnings-growth ratio of 4.13 and a beta of 1.11. Monolithic Power Systems has a 12-month low of $392.10 and a 12-month high of $891.67. The company’s fifty day simple moving average is $808.76 and its two-hundred day simple moving average is $725.39.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $457.89 million for the quarter, compared to analyst estimates of $447.76 million. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. As a group, sell-side analysts expect that Monolithic Power Systems will post 10.37 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.00 dividend on an annualized basis and a yield of 0.58%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $808.20, for a total transaction of $29,978,562.60. Following the completion of the sale, the executive vice president now directly owns 166,428 shares in the company, valued at approximately $134,507,109.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Saria Tseng sold 37,093 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $808.20, for a total value of $29,978,562.60. Following the completion of the sale, the executive vice president now directly owns 166,428 shares in the company, valued at $134,507,109.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deming Xiao sold 1,300 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $769.40, for a total transaction of $1,000,220.00. Following the completion of the sale, the executive vice president now owns 206,418 shares of the company’s stock, valued at $158,818,009.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,209 shares of company stock worth $69,015,793. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Monolithic Power Systems

A number of large investors have recently made changes to their positions in MPWR. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Monolithic Power Systems by 19.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock valued at $37,583,000 after buying an additional 9,125 shares during the period. Weiss Asset Management LP bought a new stake in Monolithic Power Systems during the fourth quarter valued at approximately $1,899,000. Cim LLC bought a new stake in Monolithic Power Systems during the fourth quarter valued at approximately $2,197,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Monolithic Power Systems by 4.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock valued at $77,970,000 after buying an additional 5,335 shares during the period. Finally, Zevenbergen Capital Investments LLC grew its position in Monolithic Power Systems by 3.0% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 53,118 shares of the semiconductor company’s stock valued at $33,506,000 after buying an additional 1,560 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.