Monolithic Power Systems (NASDAQ:MPWR) Given New $600.00 Price Target at Cowen

Monolithic Power Systems (NASDAQ:MPWRGet Rating) had its price target hoisted by Cowen from $550.00 to $600.00 in a report released on Tuesday morning, Stock Target Advisor reports. Cowen currently has an outperform rating on the semiconductor company’s stock.

MPWR has been the topic of several other reports. Oppenheimer increased their price target on shares of Monolithic Power Systems from $500.00 to $550.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monolithic Power Systems from $457.00 to $530.00 in a research note on Tuesday. Truist Financial decreased their price target on shares of Monolithic Power Systems from $568.00 to $545.00 in a research note on Friday, April 8th. KeyCorp increased their price target on shares of Monolithic Power Systems from $570.00 to $580.00 and gave the company an overweight rating in a research note on Tuesday. Finally, Needham & Company LLC increased their price target on shares of Monolithic Power Systems from $500.00 to $550.00 and gave the company a buy rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Monolithic Power Systems currently has an average rating of Moderate Buy and an average target price of $569.70.

Monolithic Power Systems Trading Up 0.3 %

NASDAQ MPWR opened at $532.33 on Tuesday. The firm has a market cap of $24.83 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 2.41 and a beta of 1.10. The company has a 50 day moving average of $426.87 and a 200-day moving average of $427.63. Monolithic Power Systems has a 1-year low of $348.02 and a 1-year high of $580.00.

Monolithic Power Systems (NASDAQ:MPWRGet Rating) last posted its quarterly earnings data on Monday, August 1st. The semiconductor company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.31. Monolithic Power Systems had a net margin of 22.40% and a return on equity of 26.57%. The company had revenue of $461.00 million during the quarter, compared to analyst estimates of $430.59 million. During the same quarter last year, the business posted $1.17 earnings per share. The company’s revenue was up 57.2% on a year-over-year basis. On average, analysts forecast that Monolithic Power Systems will post 8.72 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.56%. Monolithic Power Systems’s dividend payout ratio is 43.04%.

Insider Transactions at Monolithic Power Systems

In other news, insider Deming Xiao sold 4,298 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $392.44, for a total transaction of $1,686,707.12. Following the transaction, the insider now directly owns 288,084 shares of the company’s stock, valued at $113,055,684.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Deming Xiao sold 4,298 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $392.44, for a total transaction of $1,686,707.12. Following the transaction, the insider now directly owns 288,084 shares of the company’s stock, valued at $113,055,684.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Hsing sold 11,495 shares of Monolithic Power Systems stock in a transaction on Friday, July 1st. The stock was sold at an average price of $361.57, for a total transaction of $4,156,247.15. Following the transaction, the chief executive officer now directly owns 1,026,928 shares in the company, valued at $371,306,356.96. The disclosure for this sale can be found here. Insiders have sold a total of 21,458 shares of company stock valued at $7,922,989 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its holdings in shares of Monolithic Power Systems by 140.4% during the fourth quarter. First Trust Advisors LP now owns 110,630 shares of the semiconductor company’s stock worth $54,577,000 after acquiring an additional 64,614 shares during the period. Stephens Inc. AR raised its holdings in shares of Monolithic Power Systems by 41.7% during the first quarter. Stephens Inc. AR now owns 605 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 178 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Monolithic Power Systems by 7.0% during the fourth quarter. CIBC Asset Management Inc now owns 4,211 shares of the semiconductor company’s stock worth $2,077,000 after acquiring an additional 276 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Monolithic Power Systems by 19.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 22,389 shares of the semiconductor company’s stock worth $10,874,000 after acquiring an additional 3,570 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Monolithic Power Systems by 5.1% during the fourth quarter. Raymond James & Associates now owns 61,677 shares of the semiconductor company’s stock worth $30,427,000 after acquiring an additional 2,971 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

About Monolithic Power Systems

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Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer 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 portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.

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