Monolithic Power Systems (NASDAQ:MPWR) Given New $975.00 Price Target at TD Cowen

Monolithic Power Systems (NASDAQ:MPWR) had its price target decreased by TD Cowen from $1,100.00 to $975.00 in a research report report published on Thursday morning, Marketbeat reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

MPWR has been the subject of several other research reports. Truist Financial restated a “buy” rating and set a $994.00 target price (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Needham & Company LLC raised their price objective on shares of Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Raymond James upped their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, KeyCorp boosted their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $942.40.

Monolithic Power Systems Stock Performance

MPWR opened at $759.37 on Thursday. The company has a market cap of $37.02 billion, a PE ratio of 85.61, a price-to-earnings-growth ratio of 3.51 and a beta of 1.15. The stock has a 50-day moving average of $897.06 and a 200-day moving average of $823.57. Monolithic Power Systems has a 52-week low of $459.69 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The company had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. On average, research analysts predict that Monolithic Power Systems will post 10.41 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s payout ratio is 56.37%.

Insider Transactions at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 728 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $566,667.92. Following the sale, the chief financial officer now owns 64,178 shares of the company’s stock, valued at $49,955,513.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Hsing sold 2,790 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $2,171,708.10. Following the completion of the sale, the chief executive officer now owns 865,332 shares of the company’s stock, valued at approximately $673,565,775.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Theodore Blegen sold 728 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the sale, the chief financial officer now directly owns 64,178 shares of the company’s stock, valued at $49,955,513.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,636 shares of company stock valued at $36,459,953. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

A number of hedge funds have recently added to or reduced their stakes in MPWR. Vanguard Group Inc. raised its position in Monolithic Power Systems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock worth $3,739,318,000 after purchasing an additional 55,874 shares during the last quarter. Van ECK Associates Corp boosted its position in Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after buying an additional 93,362 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Monolithic Power Systems by 95.1% in the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock valued at $206,712,000 after buying an additional 148,771 shares during the period. Earnest Partners LLC raised its position in shares of Monolithic Power Systems by 5.2% during the first quarter. Earnest Partners LLC now owns 290,876 shares of the semiconductor company’s stock worth $197,045,000 after acquiring an additional 14,327 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Monolithic Power Systems by 14.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 275,979 shares of the semiconductor company’s stock valued at $226,767,000 after acquiring an additional 34,557 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.