Monolithic Power Systems Inc. (NASDAQ:MPWR) shares gapped up before the market opened on Thursday . The stock had previously closed at $66.39, but opened at $66.52. Monolithic Power Systems shares last traded at $67.00, with a volume of 86,044 shares changing hands.

A number of research firms have commented on MPWR. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. Zacks Investment Research lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Tuesday, May 3rd. Deutsche Bank AG upped their price target on Monolithic Power Systems from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Finally, Stifel Nicolaus upped their price target on Monolithic Power Systems from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $71.50.

The firm has a 50 day moving average of $67.91 and a 200-day moving average of $62.88. The company has a market cap of $2.77 billion and a P/E ratio of 71.70.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. During the same quarter in the prior year, the business posted $0.37 EPS. The company earned $84.50 million during the quarter, compared to analysts’ expectations of $82.99 million. The company’s revenue was up 15.0% on a year-over-year basis. Analysts forecast that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.80 annualized dividend and a yield of 1.16%.

In other Monolithic Power Systems news, Director Victor K. Lee sold 9,357 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $68.03, for a total value of $636,556.71. Following the completion of the sale, the director now owns 27,796 shares of the company’s stock, valued at $1,890,961.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Deming Xiao sold 7,113 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $61.89, for a total transaction of $440,223.57. Following the completion of the sale, the insider now directly owns 297,740 shares of the company’s stock, valued at approximately $18,427,128.60. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of Monolithic Power Systems by 14.3% in the fourth quarter. Advisors Asset Management Inc. now owns 29,468 shares of the company’s stock valued at $1,877,000 after buying an additional 3,690 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Monolithic Power Systems by 101.3% in the fourth quarter. First Trust Advisors LP now owns 38,850 shares of the company’s stock valued at $2,475,000 after buying an additional 19,554 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Monolithic Power Systems during the fourth quarter valued at about $2,830,000. EAM Investors LLC purchased a new stake in shares of Monolithic Power Systems during the fourth quarter valued at about $3,053,000. Finally, Rhumbline Advisers increased its stake in shares of Monolithic Power Systems by 7.2% in the fourth quarter. Rhumbline Advisers now owns 53,414 shares of the company’s stock valued at $3,403,000 after buying an additional 3,580 shares during the last quarter.

Monolithic Power Systems, Inc provides integrated power solutions. The Company provides power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS can be contacted through its Website at www.monolithicpower.com or its support offices around the world.

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