SunTrust Banks, Inc. Begins Coverage on Monolithic Power Systems, Inc. (MPWR)
SunTrust Banks, Inc. assumed coverage on shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $132.00 target price on the semiconductor company’s stock. SunTrust Banks also issued estimates for Monolithic Power Systems’ Q3 2017 earnings at $0.50 EPS, Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.66 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.68 EPS, FY2018 earnings at $2.42 EPS, Q1 2019 earnings at $0.66 EPS, Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.99 EPS and FY2019 earnings at $3.39 EPS.
Several other brokerages also recently weighed in on MPWR. Stifel Nicolaus reissued a buy rating and issued a $117.00 price target on shares of Monolithic Power Systems in a report on Wednesday, October 4th. Needham & Company LLC reissued a buy rating and issued a $140.00 price target (up previously from $100.00) on shares of Monolithic Power Systems in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $120.00 price target on Monolithic Power Systems and gave the stock a buy rating in a report on Wednesday, July 26th. Zacks Investment Research raised Monolithic Power Systems from a sell rating to a hold rating in a report on Wednesday, September 13th. Finally, BidaskClub downgraded Monolithic Power Systems from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $116.38.
Monolithic Power Systems (NASDAQ MPWR) traded up 0.79% during trading on Tuesday, hitting $114.03. The stock had a trading volume of 125,855 shares. Monolithic Power Systems has a 52-week low of $75.04 and a 52-week high of $114.27. The stock has a market capitalization of $4.72 billion, a PE ratio of 80.42 and a beta of 1.26. The stock’s 50-day moving average is $104.37 and its 200-day moving average is $98.91.
Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Monolithic Power Systems had a return on equity of 14.10% and a net margin of 14.30%. The company had revenue of $112.20 million for the quarter, compared to the consensus estimate of $110.94 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts predict that Monolithic Power Systems will post $2.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, September 28th. Monolithic Power Systems’s payout ratio is 56.74%.
In related news, insider Deming Xiao sold 6,004 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $101.96, for a total transaction of $612,167.84. Following the completion of the transaction, the insider now directly owns 284,102 shares in the company, valued at $28,967,039.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Hsing sold 19,766 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $101.96, for a total value of $2,015,341.36. Following the transaction, the chief executive officer now owns 1,174,800 shares of the company’s stock, valued at $119,782,608. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,819 shares of company stock valued at $11,634,216. Company insiders own 4.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. AGF Investments America Inc. raised its position in Monolithic Power Systems by 23.9% during the second quarter. AGF Investments America Inc. now owns 53,083 shares of the semiconductor company’s stock valued at $5,117,000 after acquiring an additional 10,229 shares in the last quarter. Pembroke Management LTD purchased a new position in Monolithic Power Systems during the second quarter valued at approximately $8,945,000. AGF Investments Inc. raised its position in Monolithic Power Systems by 28.9% during the second quarter. AGF Investments Inc. now owns 9,572 shares of the semiconductor company’s stock valued at $923,000 after acquiring an additional 2,146 shares in the last quarter. Vanguard Group Inc. raised its position in Monolithic Power Systems by 5.4% during the first quarter. Vanguard Group Inc. now owns 3,032,784 shares of the semiconductor company’s stock valued at $279,320,000 after acquiring an additional 155,052 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Monolithic Power Systems by 166.3% during the second quarter. Franklin Resources Inc. now owns 799,631 shares of the semiconductor company’s stock valued at $77,086,000 after acquiring an additional 499,387 shares in the last quarter. Institutional investors own 93.19% of the company’s stock.
Monolithic Power Systems Company Profile
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company operates in the design, development, marketing and sale of power solutions for the communications, storage and computing, consumer and industrial markets segment.
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