Monolithic Power Systems (NASDAQ:MPWR) Shares Gap Up Following Analyst Upgrade

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s share price gapped up prior to trading on Friday after Wells Fargo & Company raised their price target on the stock from $610.00 to $710.00. The stock had previously closed at $660.90, but opened at $686.70. Wells Fargo & Company currently has an equal weight rating on the stock. Monolithic Power Systems shares last traded at $710.79, with a volume of 1,038,106 shares changing hands.

Several other research firms also recently issued reports on MPWR. Oppenheimer cut their price objective on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. Rosenblatt Securities reissued a “neutral” rating and issued a $880.00 price objective on shares of Monolithic Power Systems in a research note on Thursday. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a research note on Monday, November 18th. Finally, TD Cowen reduced their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Monolithic Power Systems presently has an average rating of “Moderate Buy” and an average target price of $857.83.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. The trade was a 4.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Czech National Bank raised its holdings in Monolithic Power Systems by 7.1% during the third quarter. Czech National Bank now owns 9,931 shares of the semiconductor company’s stock worth $9,181,000 after purchasing an additional 657 shares in the last quarter. Mather Group LLC. grew its position in shares of Monolithic Power Systems by 93.2% in the 3rd quarter. Mather Group LLC. now owns 313 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 151 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in Monolithic Power Systems by 7.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 349 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Monolithic Power Systems by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 305 shares of the semiconductor company’s stock valued at $282,000 after acquiring an additional 41 shares during the last quarter. Finally, CWM LLC boosted its stake in Monolithic Power Systems by 37.9% in the third quarter. CWM LLC now owns 2,155 shares of the semiconductor company’s stock valued at $1,992,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Stock Up 6.5 %

The firm has a fifty day simple moving average of $613.54 and a 200-day simple moving average of $756.52. The company has a market cap of $34.32 billion, a PE ratio of 79.33, a price-to-earnings-growth ratio of 2.44 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. Equities research analysts forecast that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.71%. Monolithic Power Systems’s payout ratio is 56.37%.

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.