Monolithic Power Systems (NASDAQ:MPWR) Price Target Raised to $270.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective lifted by Deutsche Bank from $255.00 to $270.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on MPWR. Needham & Company LLC raised their target price on shares of Monolithic Power Systems from $265.00 to $275.00 and gave the company a buy rating in a report on Wednesday. SunTrust Banks raised their price objective on shares of Monolithic Power Systems from $212.00 to $265.00 and gave the stock a buy rating in a report on Friday, June 26th. BidaskClub upgraded shares of Monolithic Power Systems from a buy rating to a strong-buy rating in a research report on Saturday, June 6th. Oppenheimer raised their target price on shares of Monolithic Power Systems from $210.00 to $285.00 in a research report on Friday, July 24th. Finally, Raymond James raised their target price on shares of Monolithic Power Systems from $190.00 to $215.00 and gave the stock an outperform rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Monolithic Power Systems currently has a consensus rating of Buy and an average target price of $262.22.

Shares of MPWR traded down $4.74 during mid-day trading on Wednesday, hitting $265.01. 352,664 shares of the company’s stock were exchanged, compared to its average volume of 290,371. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 96.37, a P/E/G ratio of 4.02 and a beta of 1.22. Monolithic Power Systems has a fifty-two week low of $130.12 and a fifty-two week high of $271.94. The stock’s 50-day moving average is $237.36 and its 200-day moving average is $196.03.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.08. The firm had revenue of $186.21 million for the quarter, compared to analysts’ expectations of $169.79 million. Monolithic Power Systems had a net margin of 18.60% and a return on equity of 15.41%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. As a group, research analysts predict that Monolithic Power Systems will post 2.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Monday, June 29th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 79.05%.

In other news, VP Saria Tseng sold 6,495 shares of Monolithic Power Systems stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $246.06, for a total transaction of $1,598,159.70. Following the completion of the transaction, the vice president now owns 274,775 shares of the company’s stock, valued at approximately $67,611,136.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore Blegen sold 2,408 shares of Monolithic Power Systems stock in a transaction on Monday, July 20th. The stock was sold at an average price of $249.34, for a total value of $600,410.72. Following the transaction, the chief financial officer now directly owns 133,938 shares of the company’s stock, valued at approximately $33,396,100.92. The disclosure for this sale can be found here. In the last three months, insiders sold 103,681 shares of company stock valued at $23,000,455. 3.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in shares of Monolithic Power Systems by 8.8% during the 2nd quarter. Comerica Bank now owns 26,235 shares of the semiconductor company’s stock worth $6,539,000 after buying an additional 2,122 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Monolithic Power Systems by 152.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 164 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 99 shares during the last quarter. LA Financiere DE L Echiquier raised its stake in Monolithic Power Systems by 2.8% in the 2nd quarter. LA Financiere DE L Echiquier now owns 13,982 shares of the semiconductor company’s stock valued at $3,314,000 after purchasing an additional 382 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in Monolithic Power Systems in the 2nd quarter valued at about $789,000. Finally, Park Avenue Securities LLC acquired a new position in Monolithic Power Systems in the 2nd quarter valued at about $316,000. 94.34% of the stock is owned by institutional investors and hedge funds.

About Monolithic Power Systems

Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications 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, monitors, automobiles, and medical equipment.

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