Monolithic Power Systems Inc. (NASDAQ:MPWR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $71.05 and last traded at $70.90, with a volume of 151,777 shares. The stock had previously closed at $69.81.

A number of research analysts have issued reports on MPWR shares. Zacks Investment Research raised shares of Monolithic Power Systems from a “strong sell” rating to a “hold” rating in a report on Thursday, April 7th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, March 16th. Deutsche Bank AG increased their target price on shares of Monolithic Power Systems from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Monolithic Power Systems in a report on Tuesday, May 3rd. Finally, Stifel Nicolaus increased their target price on shares of Monolithic Power Systems from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $71.50.

The firm has a market cap of $2.85 billion and a price-to-earnings ratio of 73.66. The company’s 50 day moving average is $68.23 and its 200-day moving average is $62.95.

Monolithic Power Systems (NASDAQ:MPWR) last posted its 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 period in the prior year, the firm earned $0.37 earnings per share. The business earned $84.50 million during the quarter, compared to the consensus estimate of $82.99 million. The business’s revenue was up 15.0% on a year-over-year basis. Equities research analysts predict that Monolithic Power Systems Inc. will post $2.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, June 28th.

In other Monolithic Power Systems news, insider Deming Xiao sold 7,113 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $61.89, for a total value 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 $18,427,128.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victor K. Lee sold 9,357 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $68.03, for a total transaction of $636,556.71. Following the completion of the sale, the director now directly owns 27,796 shares of the company’s stock, valued at $1,890,961.88. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of MPWR. Jennison Associates LLC boosted its stake in shares of Monolithic Power Systems by 10.7% in the fourth quarter. Jennison Associates LLC now owns 493,703 shares of the company’s stock worth $31,454,000 after buying an additional 47,565 shares during the last quarter. Advisors Asset Management Inc. boosted 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 worth $1,877,000 after buying an additional 3,690 shares during the last quarter. Fiduciary Management Associates LLC purchased a new stake in shares of Monolithic Power Systems during the fourth quarter worth $17,412,000. Principal Financial Group Inc. boosted its stake in shares of Monolithic Power Systems by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 244,677 shares of the company’s stock worth $15,588,000 after buying an additional 10,163 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Monolithic Power Systems by 6.6% in the fourth quarter. Wells Fargo & Company MN now owns 417,201 shares of the company’s stock worth $26,579,000 after buying an additional 25,907 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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