Truist Financial Boosts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $799.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price increased by Truist Financial from $789.00 to $799.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company raised their target price on Monolithic Power Systems from $715.00 to $725.00 and gave the company an overweight rating in a report on Thursday. Needham & Company LLC restated a buy rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research note on Thursday. KeyCorp lifted their target price on shares of Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a report on Monday, April 8th. TD Cowen lifted their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, Oppenheimer raised their target price 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 issued 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 $716.90.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock traded down $5.67 during trading on Thursday, hitting $707.22. 585,707 shares of the stock traded hands, compared to its average volume of 544,973. The stock has a market cap of $34.41 billion, a P/E ratio of 84.29, a PEG ratio of 3.78 and a beta of 1.22. The company has a fifty day moving average price of $678.85 and a two-hundred day moving average price of $616.32. Monolithic Power Systems has a twelve month low of $383.19 and a twelve month high of $778.15.

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

Monolithic Power Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 represents a $5.00 dividend on an annualized basis and a yield of 0.71%. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s payout ratio is currently 59.59%.

Insider Buying and Selling at Monolithic Power Systems

In other news, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the sale, the insider now directly owns 208,580 shares in the company, valued at approximately $141,834,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Theodore Blegen sold 728 shares of Monolithic Power Systems stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $495,040.00. Following the completion of the transaction, the chief financial officer now directly owns 83,173 shares of the company’s stock, valued at approximately $56,557,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Deming Xiao sold 859 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the completion of the transaction, the insider now owns 208,580 shares in the company, valued at $141,834,400. The disclosure for this sale can be found here. Insiders have sold 45,077 shares of company stock valued at $30,986,274 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank raised its position in Monolithic Power Systems by 5.6% in the 3rd quarter. Huntington National Bank now owns 657 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 35 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Monolithic Power Systems by 8.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 196,781 shares of the semiconductor company’s stock valued at $90,913,000 after buying an additional 15,609 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Monolithic Power Systems by 36.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 47,500 shares of the semiconductor company’s stock valued at $21,945,000 after buying an additional 12,600 shares during the last quarter. Czech National Bank lifted its position in Monolithic Power Systems by 0.5% during the 4th quarter. Czech National Bank now owns 8,391 shares of the semiconductor company’s stock worth $5,293,000 after buying an additional 41 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Monolithic Power Systems by 19.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 461,087 shares of the semiconductor company’s stock worth $290,844,000 after acquiring an additional 73,564 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Monolithic Power Systems Company Profile

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.