Monolithic Power Systems (NASDAQ:MPWR) Reaches New 12-Month High on Analyst Upgrade

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s share price reached a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $420.00 to $450.00. Oppenheimer currently has an outperform rating on the stock. Monolithic Power Systems traded as high as $407.20 and last traded at $406.49, with a volume of 935 shares. The stock had previously closed at $405.30.

Separately, Deutsche Bank Aktiengesellschaft dropped their price target on Monolithic Power Systems from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $406.00.

In other Monolithic Power Systems news, CEO Michael Hsing sold 6,723 shares of the business’s stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $311.82, for a total transaction of $2,096,365.86. Following the transaction, the chief executive officer now owns 1,011,650 shares in the company, valued at $315,452,703. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Saria Tseng sold 2,196 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $326.41, for a total value of $716,796.36. The disclosure for this sale can be found here. Insiders sold 64,754 shares of company stock worth $22,714,742 in the last quarter. 2.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of MPWR. Price T Rowe Associates Inc. MD lifted its stake in shares of Monolithic Power Systems by 97.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,837,795 shares of the semiconductor company’s stock worth $673,056,000 after purchasing an additional 905,612 shares in the last quarter. Norges Bank purchased a new stake in shares of Monolithic Power Systems during the fourth quarter worth about $147,100,000. Neuberger Berman Group LLC increased its position in shares of Monolithic Power Systems by 75.6% during the first quarter. Neuberger Berman Group LLC now owns 650,004 shares of the semiconductor company’s stock worth $229,579,000 after acquiring an additional 279,897 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Monolithic Power Systems by 43.1% during the first quarter. Geode Capital Management LLC now owns 805,028 shares of the semiconductor company’s stock worth $283,651,000 after acquiring an additional 242,275 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Monolithic Power Systems by 28.4% during the first quarter. Fred Alger Management LLC now owns 796,339 shares of the semiconductor company’s stock worth $281,275,000 after acquiring an additional 176,170 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 110.44, a PEG ratio of 3.52 and a beta of 0.89. The firm has a 50-day moving average price of $354.48.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Tuesday, May 4th. The semiconductor company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.12. Monolithic Power Systems had a return on equity of 18.23% and a net margin of 18.65%. The business had revenue of $254.50 million for the quarter, compared to analyst estimates of $242.43 million. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. Research analysts forecast that Monolithic Power Systems, Inc. will post 4.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.59%. The ex-dividend date was Tuesday, June 29th. Monolithic Power Systems’s dividend payout ratio is currently 68.18%.

About Monolithic Power Systems (NASDAQ:MPWR)

Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for computing and storage, automotive, industrial, communications, and consumer applications markets. It offers 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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