Monolithic Power Systems (NASDAQ:MPWR) Reaches New 52-Week High Following Analyst Upgrade

Monolithic Power Systems, Inc. (NASDAQ:MPWRGet Free Report)’s stock price reached a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $850.00 to $975.00. KeyCorp currently has an overweight rating on the stock. Monolithic Power Systems traded as high as $868.41 and last traded at $864.71, with a volume of 11681 shares traded. The stock had previously closed at $851.82.

Other analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Oppenheimer increased their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Wells Fargo & Company increased their price objective on Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Truist Financial increased their price objective on Monolithic Power Systems from $789.00 to $799.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $806.13.

Get Our Latest Stock Report on MPWR

Insider Buying and Selling

In other Monolithic Power Systems news, CEO Michael Hsing sold 8,000 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total value of $5,294,800.00. Following the completion of the sale, the chief executive officer now directly owns 891,232 shares of the company’s stock, valued at approximately $589,861,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Deming Xiao sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $769.40, for a total transaction of $1,000,220.00. Following the completion of the sale, the executive vice president now directly owns 206,418 shares of the company’s stock, valued at approximately $158,818,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Hsing sold 8,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total transaction of $5,294,800.00. Following the sale, the chief executive officer now directly owns 891,232 shares of the company’s stock, valued at $589,861,899.20. The disclosure for this sale can be found here. Insiders sold 81,310 shares of company stock worth $63,163,317 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

Several institutional investors have recently made changes to their positions in MPWR. RiverPark Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the 1st quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in Monolithic Power Systems during the 1st quarter worth $31,000. Atwood & Palmer Inc. purchased a new stake in Monolithic Power Systems during the 2nd quarter worth $33,000. Arlington Trust Co LLC boosted its position in Monolithic Power Systems by 56.1% during the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 23 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Monolithic Power Systems during the 4th quarter worth $43,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Trading Up 1.7 %

The business’s 50-day moving average is $776.29 and its two-hundred day moving average is $701.34. The stock has a market capitalization of $41.90 billion, a PE ratio of 102.60, a PEG ratio of 4.26 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWRGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. The firm had revenue of $457.89 million during the quarter, compared to analysts’ expectations of $447.76 million. On average, analysts predict that Monolithic Power Systems, Inc. will post 10.37 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 28th. This represents a $5.00 dividend on an annualized basis and a yield of 0.58%. Monolithic Power Systems’s dividend payout ratio (DPR) is 59.59%.

About Monolithic Power Systems

(Get Free Report)

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.

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