Wells Fargo & Company Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $725.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price increased by Wells Fargo & Company from $715.00 to $725.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on the stock. TD Cowen increased their target price on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the stock an outperform rating in a research report on Thursday, February 8th. KeyCorp increased their price objective on shares of Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Needham & Company LLC restated a buy rating and set a $800.00 target price on shares of Monolithic Power Systems in a report on Thursday. Finally, Oppenheimer increased their price target on Monolithic Power Systems from $600.00 to $700.00 and gave the company an outperform rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of Moderate Buy and a consensus target price of $716.90.

Monolithic Power Systems Trading Down 0.8 %

Shares of Monolithic Power Systems stock traded down $5.67 during mid-day trading on Thursday, hitting $707.22. 585,707 shares of the stock were exchanged, compared to its average volume of 544,973. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 84.29, a price-to-earnings-growth ratio of 3.82 and a beta of 1.22. Monolithic Power Systems has a twelve month low of $383.19 and a twelve month high of $778.15. The company has a 50-day simple moving average of $678.85 and a 200 day simple moving average of $615.35.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. The company had revenue of $454.01 million for the quarter, compared to analyst estimates of $452.13 million. Equities research analysts forecast that Monolithic Power Systems will post 10.05 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 0.71%. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 59.59%.

Insider Activity

In other Monolithic Power Systems news, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the transaction, the insider now directly owns 208,580 shares in the company, valued at approximately $141,834,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Deming Xiao sold 859 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the transaction, the insider now directly owns 208,580 shares of the company’s stock, valued at $141,834,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Hsing sold 2,790 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $1,897,200.00. Following the completion of the transaction, the chief executive officer now owns 915,193 shares in the company, valued at approximately $622,331,240. The disclosure for this sale can be found here. Insiders sold a total of 45,077 shares of company stock valued at $30,986,274 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MPWR. Vanguard Group Inc. raised its stake in shares of Monolithic Power Systems by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 5,464,066 shares of the semiconductor company’s stock valued at $3,446,624,000 after acquiring an additional 90,589 shares in the last quarter. FMR LLC lifted its stake in shares of Monolithic Power Systems by 35.0% in the third quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock worth $1,655,717,000 after buying an additional 929,009 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Monolithic Power Systems by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 1,830,569 shares of the semiconductor company’s stock worth $1,154,686,000 after buying an additional 43,191 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Monolithic Power Systems by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,056,183 shares of the semiconductor company’s stock valued at $666,219,000 after buying an additional 3,105 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in Monolithic Power Systems by 4.4% in the 4th quarter. Brown Advisory Inc. now owns 1,028,467 shares of the semiconductor company’s stock worth $648,736,000 after acquiring an additional 43,225 shares during the period. Institutional investors and hedge funds 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.