Needham & Company LLC Increases Monolithic Power Systems (NASDAQ:MPWR) Price Target to $1,000.00

Monolithic Power Systems (NASDAQ:MPWR) had its price objective lifted by Needham & Company LLC from $800.00 to $1,000.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts have also issued reports on MPWR. Wells Fargo & Company boosted their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Rosenblatt Securities boosted their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a buy rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a buy rating in a research report on Friday, August 2nd. KeyCorp boosted their price target on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted their price target on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a buy rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $882.30.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $843.52 on Monday. The firm has a market cap of $41.06 billion, a price-to-earnings ratio of 100.54, a P/E/G ratio of 3.92 and a beta of 1.11. Monolithic Power Systems has a 52 week low of $392.10 and a 52 week high of $891.67. The firm’s 50-day simple moving average is $811.54 and its two-hundred day simple moving average is $731.66.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. The business had revenue of $507.40 million for the quarter, compared to analyst estimates of $490.66 million. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that Monolithic Power Systems will post 10.37 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, June 28th. This represents a $5.00 annualized dividend and a yield of 0.59%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Activity at Monolithic Power Systems

In related news, CEO Michael Hsing sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $731.08, for a total transaction of $5,848,640.00. Following the completion of the transaction, the chief executive officer now owns 880,408 shares of the company’s stock, valued at $643,648,680.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,416 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $731.43, for a total value of $1,767,134.88. Following the completion of the transaction, the chief financial officer now owns 72,486 shares of the company’s stock, valued at approximately $53,018,434.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Hsing sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $731.08, for a total transaction of $5,848,640.00. Following the completion of the transaction, the chief executive officer now directly owns 880,408 shares of the company’s stock, valued at approximately $643,648,680.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,279 shares of company stock valued at $68,090,365. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Monolithic Power Systems by 19.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock worth $37,583,000 after buying an additional 9,125 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Monolithic Power Systems in the 4th quarter valued at $1,899,000. Cim LLC purchased a new stake in shares of Monolithic Power Systems in the 4th quarter valued at $2,197,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Monolithic Power Systems by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock valued at $77,970,000 after purchasing an additional 5,335 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its stake in shares of Monolithic Power Systems by 3.0% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 53,118 shares of the semiconductor company’s stock valued at $33,506,000 after purchasing an additional 1,560 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

About Monolithic Power Systems

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.