Monolithic Power Systems (NASDAQ:MPWR) Given New $725.00 Price Target at Wells Fargo & Company

Monolithic Power Systems (NASDAQ:MPWR) had its target price increased by Wells Fargo & Company from $715.00 to $725.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other research firms also recently issued reports on MPWR. Oppenheimer raised their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Needham & Company LLC restated a buy rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research note on Thursday. TD Cowen increased their target price on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the stock an outperform rating in a research report on Thursday, February 8th. Finally, KeyCorp lifted their target price on shares of Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $716.90.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR traded down $5.67 during mid-day trading on Thursday, reaching $707.22. 585,707 shares of the company’s stock were exchanged, compared to its average volume of 544,973. The firm has a 50-day moving average price of $678.85 and a two-hundred day moving average price of $615.35. The firm has a market capitalization of $34.41 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 3.82 and a beta of 1.22. Monolithic Power Systems has a 52 week low of $383.19 and a 52 week high of $778.15.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. The company had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. As a group, sell-side analysts forecast that Monolithic Power Systems will post 10.05 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a yield of 0.71%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Buying and Selling at Monolithic Power Systems

In related news, CEO Michael Hsing sold 2,790 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $680.00, for a total value of $1,897,200.00. Following the sale, the chief executive officer now owns 915,193 shares in the company, valued at $622,331,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Hsing sold 2,790 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total value of $1,897,200.00. Following the transaction, the chief executive officer now directly owns 915,193 shares in the company, valued at $622,331,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the sale, the chief financial officer now owns 75,723 shares of the company’s stock, valued at $50,226,308.67. The disclosure for this sale can be found here. Insiders sold a total of 45,077 shares of company stock valued at $30,986,274 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several hedge funds have recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new stake in Monolithic Power Systems in the first quarter worth approximately $27,000. OFI Invest Asset Management bought a new position in shares of Monolithic Power Systems during the 1st quarter valued at $31,000. Arlington Trust Co LLC raised its position in Monolithic Power Systems by 56.1% in the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 23 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Monolithic Power Systems in the 4th quarter worth $43,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Monolithic Power Systems by 23.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

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.