Monolithic Power Systems Inc. (NASDAQ:MPWR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $71.68 and last traded at $70.89, with a volume of 101,051 shares traded. The stock had previously closed at $70.92.

MPWR has been the subject of a number of recent analyst reports. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. Stifel Nicolaus upped their price objective on shares of Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Needham & Company LLC reissued a “buy” rating on shares of Monolithic Power Systems in a research report on Tuesday, May 3rd. Finally, 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 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.63.

The company has a 50-day moving average of $68.53 and a 200-day moving average of $63.11. The firm has a market capitalization of $2.86 billion and a P/E ratio of 74.04.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. During the same period last year, the business earned $0.37 earnings per share. The business had revenue of $84.50 million for the quarter, compared to analysts’ expectations of $82.99 million. The company’s revenue was up 15.0% on a year-over-year basis. On average, analysts predict that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.13%.

In other Monolithic Power Systems news, Director Victor K. Lee sold 9,357 shares of Monolithic Power Systems 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 transaction, the director now directly owns 27,796 shares of the company’s stock, valued at $1,890,961.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Maurice Sciammas sold 6,318 shares of Monolithic Power Systems stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $61.91, for a total transaction of $391,147.38. Following the completion of the transaction, the vice president now directly owns 370,945 shares of the company’s stock, valued at $22,965,204.95. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of MPWR. State of Tennessee Treasury Department purchased a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $1,790,000. Jennison Associates LLC boosted its position 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 valued at $31,454,000 after buying an additional 47,565 shares during the period. Advisors Asset Management Inc. boosted its position 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 period. Fiduciary Management Associates LLC purchased a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $17,412,000. Finally, Principal Financial Group Inc. boosted its position 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 valued at $15,588,000 after buying an additional 10,163 shares during the period.

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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