Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $700.00 by Analysts at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its price objective trimmed by KeyCorp from $1,075.00 to $700.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on MPWR. Stifel Nicolaus lifted their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, September 27th. Truist Financial reaffirmed a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a research report on Monday, November 11th. Loop Capital raised Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $882.64.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock opened at $587.84 on Monday. The stock has a fifty day moving average price of $856.47 and a two-hundred day moving average price of $828.33. Monolithic Power Systems has a 52-week low of $535.39 and a 52-week high of $959.64. The firm has a market capitalization of $28.67 billion, a P/E ratio of 66.27, a P/E/G ratio of 2.73 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by ($0.05). The company had revenue of $620.12 million for the quarter, compared to analyst estimates of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. On average, equities research analysts predict that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.85%. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Insider Buying and Selling at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 734 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $765.15, for a total value of $561,620.10. Following the completion of the sale, the chief financial officer now owns 55,944 shares of the company’s stock, valued at approximately $42,805,551.60. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deming Xiao sold 9,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total value of $8,796,050.00. Following the sale, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at $19,432,250. This represents a 31.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,359 shares of company stock worth $36,209,571. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPWR. FMR LLC lifted its holdings in shares of Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after purchasing an additional 361,416 shares in the last quarter. State Street Corp lifted its holdings in Monolithic Power Systems by 2.1% during the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock worth $1,930,301,000 after acquiring an additional 42,678 shares during the period. Geode Capital Management LLC lifted its holdings in Monolithic Power Systems by 11.2% during the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after acquiring an additional 133,838 shares during the period. Van ECK Associates Corp lifted its holdings in Monolithic Power Systems by 26.3% during the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after acquiring an additional 93,362 shares during the period. Finally, Barclays PLC lifted its holdings in Monolithic Power Systems by 5.0% during the third quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after acquiring an additional 15,350 shares during the period. 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.