KeyCorp Forecasts Strong Price Appreciation for Monolithic Power Systems (NASDAQ:MPWR) Stock

Monolithic Power Systems (NASDAQ:MPWR) had its target price hoisted by KeyCorp from $700.00 to $850.00 in a report issued on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup began coverage on shares of Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price objective for the company. Wells Fargo & Company began coverage on shares of Monolithic Power Systems in a report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 price objective for the company. TD Cowen decreased their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $880.00 price objective on shares of Monolithic Power Systems in a report on Thursday. Finally, Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective for the company in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $866.17.

Monolithic Power Systems Stock Up 9.0 %

MPWR opened at $720.25 on Friday. The firm has a market capitalization of $35.13 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.53 and a beta of 1.03. The firm’s 50 day moving average is $618.61 and its 200-day moving average is $754.03. Monolithic Power Systems has a 52-week low of $546.71 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 22.49% and a net margin of 80.95%. Equities analysts expect that Monolithic Power Systems will post 13 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 0.87%. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, March 31st. Monolithic Power Systems’s dividend payout ratio is currently 13.60%.

Insider Activity

In related news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $600.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Trading of Monolithic Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tradewinds Capital Management LLC increased its stake in shares of Monolithic Power Systems by 120.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 24 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Monolithic Power Systems in the fourth quarter worth about $27,000. NBC Securities Inc. increased its position in Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Wolff Wiese Magana LLC increased its position in Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 34 shares during the period. Finally, West Oak Capital LLC increased its position in Monolithic Power Systems by 990.9% in the fourth quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 545 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.