Monolithic Power Systems (NASDAQ:MPWR) Posts Earnings Results

Monolithic Power Systems (NASDAQ:MPWR) issued its quarterly earnings results on Thursday. The semiconductor company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10, Briefing.com reports. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. The company had revenue of $507.40 million during the quarter, compared to analyst estimates of $490.66 million. During the same period in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Monolithic Power Systems updated its Q3 2024 guidance to EPS.

Monolithic Power Systems Trading Up 0.9 %

Monolithic Power Systems stock traded up $7.22 during mid-day trading on Friday, hitting $792.17. 297,328 shares of the company’s stock were exchanged, compared to its average volume of 527,054. The stock has a market cap of $38.56 billion, a P/E ratio of 98.93, a P/E/G ratio of 4.31 and a beta of 1.11. The stock has a 50 day moving average of $809.53 and a two-hundred day moving average of $725.80. Monolithic Power Systems has a 1-year low of $392.10 and a 1-year high of $891.67.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s payout ratio is presently 59.59%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MPWR. Rosenblatt Securities boosted their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp lifted their price target on Monolithic Power Systems from $850.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 target price on shares of Monolithic Power Systems in a report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Oppenheimer raised their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average price target of $837.25.

Insider Activity

In related news, EVP Deming Xiao sold 3,205 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $831.58, for a total transaction of $2,665,213.90. Following the completion of the transaction, the executive vice president now owns 203,213 shares of the company’s stock, valued at approximately $168,987,866.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deming Xiao sold 3,205 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $831.58, for a total transaction of $2,665,213.90. Following the transaction, the executive vice president now owns 203,213 shares of the company’s stock, valued at $168,987,866.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theodore Blegen sold 2,580 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $831.58, for a total transaction of $2,145,476.40. Following the transaction, the chief financial officer now directly owns 67,406 shares of the company’s stock, valued at approximately $56,053,481.48. The disclosure for this sale can be found here. Insiders have sold a total of 86,209 shares of company stock valued at $69,015,793 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

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.