Monolithic Power Systems (NASDAQ:MPWR) Given New $600.00 Price Target at Needham & Company LLC

Monolithic Power Systems (NASDAQ:MPWR) had its target price lowered by Needham & Company LLC from $950.00 to $600.00 in a research report sent to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. KeyCorp reduced their price target on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a research note on Monday, November 18th. Stifel Nicolaus increased their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Truist Financial reaffirmed a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $840.36.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR opened at $600.86 on Friday. The company has a fifty day moving average of $826.30 and a two-hundred day moving average of $823.48. Monolithic Power Systems has a fifty-two week low of $538.00 and a fifty-two week high of $959.64. The stock has a market capitalization of $29.31 billion, a PE ratio of 65.48, a P/E/G ratio of 2.77 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The firm had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. Research analysts forecast that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is 56.37%.

Insider Activity at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 11,000 shares of Monolithic Power Systems stock in a transaction on Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now directly owns 103,829 shares in the company, valued at approximately $96,518,400.11. This trade represents a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $908.36, for a total value of $2,270,900.00. Following the sale, the chief financial officer now owns 59,178 shares in the company, valued at approximately $53,754,928.08. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,100 shares of company stock worth $17,913,521. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MPWR. Acadian Asset Management LLC increased its position in shares of Monolithic Power Systems by 224.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company’s stock valued at $1,034,000 after purchasing an additional 1,057 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Monolithic Power Systems by 52.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,629 shares of the semiconductor company’s stock valued at $1,104,000 after buying an additional 561 shares in the last quarter. LRI Investments LLC acquired a new stake in Monolithic Power Systems in the first quarter valued at $132,000. Lazard Asset Management LLC boosted its position in shares of Monolithic Power Systems by 21,460.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,078 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Monolithic Power Systems in the 1st quarter valued at about $2,913,000. 93.46% of the stock is owned by institutional investors and hedge funds.

Monolithic Power Systems Company Profile

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.