Raymond James Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $925.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target boosted by Raymond James from $770.00 to $925.00 in a research note released on Friday, Benzinga reports. Raymond James currently has an outperform rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company a buy rating in a research report on Friday. Rosenblatt Securities increased their price target on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a buy rating in a research note on Monday, July 29th. Needham & Company LLC restated a buy rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Oppenheimer raised their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company an outperform rating in a research report on Thursday, June 13th. Finally, KeyCorp increased 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 report on Friday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $882.30.

Monolithic Power Systems Price Performance

MPWR stock traded down $25.32 during mid-day trading on Friday, reaching $770.44. The company had a trading volume of 843,364 shares, compared to its average volume of 536,494. Monolithic Power Systems has a 52 week low of $392.10 and a 52 week high of $891.67. The stock has a 50 day simple moving average of $810.38 and a two-hundred day simple moving average of $729.24. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 91.05, a PEG ratio of 3.92 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data 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. Monolithic Power Systems had a return on equity of 20.63% and a net margin of 21.70%. The company had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. During the same period in the previous year, the business earned $2.05 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Monolithic Power Systems will post 10.37 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 59.59%.

Insiders Place Their Bets

In other news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $852.51, for a total value of $2,131,275.00. Following the completion of the sale, the chief financial officer now owns 64,906 shares of the company’s stock, valued at approximately $55,333,014.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $852.51, for a total value of $2,131,275.00. Following the completion of the transaction, the chief financial officer now directly owns 64,906 shares in the company, valued at $55,333,014.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Saria Tseng sold 869 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $690.02, for a total value of $599,627.38. Following the completion of the sale, the executive vice president now owns 203,521 shares in the company, valued at approximately $140,433,560.42. The disclosure for this sale can be found here. Insiders sold a total of 88,709 shares of company stock worth $71,147,068 over the last 90 days. 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 business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Monolithic Power Systems by 19.7% in the 1st 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 in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Monolithic Power Systems during the 4th quarter worth $1,899,000. Cim LLC purchased a new stake in shares of Monolithic Power Systems during the 4th quarter worth $2,197,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Monolithic Power Systems by 4.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after acquiring an additional 5,335 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its stake in Monolithic Power Systems by 3.0% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 53,118 shares of the semiconductor company’s stock valued at $33,506,000 after purchasing an additional 1,560 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.