Monolithic Power Systems (NASDAQ:MPWR) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $610.00 target price on the semiconductor company’s stock.

MPWR has been the subject of several other reports. KeyCorp reduced their target price on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Oppenheimer reiterated an “outperform” rating and issued a $900.00 target price on shares of Monolithic Power Systems in a research report on Monday, November 11th. Rosenblatt Securities downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a report on Monday, November 18th. Finally, TD Cowen cut their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $840.36.

Monolithic Power Systems Stock Performance

Shares of MPWR opened at $580.81 on Friday. The firm has a market cap of $28.33 billion, a P/E ratio of 65.48, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. The business has a 50-day moving average of $826.30 and a 200 day moving average of $822.71. Monolithic Power Systems has a fifty-two week low of $538.00 and a fifty-two week high of $959.64.

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

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is 56.37%.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Deming Xiao sold 9,259 shares of the company’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 transaction of $8,796,050.00. Following the transaction, the executive vice president now owns 20,455 shares in the company, valued at approximately $19,432,250. This represents a 31.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maurice Sciammas sold 11,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at $96,518,400.11. This represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,359 shares of company stock worth $26,709,571 over the last 90 days. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds have recently added to or reduced their stakes in MPWR. Family Firm Inc. bought a new stake in shares of Monolithic Power Systems in the 2nd quarter worth $25,000. NBC Securities Inc. increased its holdings in Monolithic Power Systems by 433.3% in the 3rd quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC raised its position in Monolithic Power Systems by 3,400.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after buying an additional 34 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Monolithic Power Systems during the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC boosted its stake in shares of Monolithic Power Systems by 126.3% in the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock worth $35,000 after buying an additional 24 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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.