Monolithic Power Systems (NASDAQ:MPWR) Raised to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Monolithic Power Systems (NASDAQ:MPWR) to a strong-buy rating in a research note released on Monday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a buy rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the company a buy rating in a report on Friday, August 2nd. KeyCorp raised their price objective on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Needham & Company LLC upped their target price on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, Rosenblatt Securities increased their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a buy rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems currently has an average rating of Buy and an average target price of $912.30.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $911.12 on Monday. The business has a 50 day moving average price of $861.34 and a 200 day moving average price of $775.18. The company has a market capitalization of $44.35 billion, a P/E ratio of 108.60, a P/E/G ratio of 4.14 and a beta of 1.12. Monolithic Power Systems has a 1 year low of $392.10 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The company had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, research analysts expect that Monolithic Power Systems will post 10.41 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $1.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.55%. Monolithic Power Systems’s dividend payout ratio (DPR) is 59.59%.

Insider Activity

In related news, EVP Saria Tseng sold 37,093 shares of the stock in a transaction that occurred on 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 owns 166,428 shares of the company’s stock, valued at approximately $134,507,109.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the business’s stock in a transaction that occurred on 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 $134,507,109.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 728 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $566,667.92. Following the completion of the sale, the chief financial officer now directly owns 64,178 shares of the company’s stock, valued at approximately $49,955,513.42. The disclosure for this sale can be found here. Insiders have sold 98,299 shares of company stock valued at $83,140,933 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Monolithic Power Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock valued at $3,739,318,000 after buying an additional 55,874 shares in the last quarter. Wellington Management Group LLP grew its position in Monolithic Power Systems by 10.0% in the fourth quarter. Wellington Management Group LLP now owns 938,919 shares of the semiconductor company’s stock valued at $592,251,000 after acquiring an additional 85,676 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Monolithic Power Systems by 1.2% during the fourth quarter. Capital Research Global Investors now owns 616,180 shares of the semiconductor company’s stock valued at $388,674,000 after purchasing an additional 7,323 shares during the period. Norges Bank acquired a new position in shares of Monolithic Power Systems during the fourth quarter worth $362,477,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Monolithic Power Systems by 4.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 483,812 shares of the semiconductor company’s stock valued at $327,743,000 after purchasing an additional 22,725 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.