KeyCorp Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $700.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price trimmed by KeyCorp from $1,075.00 to $700.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

MPWR has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective 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. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Raymond James upped their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price target on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $882.64.

Monolithic Power Systems Stock Down 4.4 %

Shares of NASDAQ:MPWR opened at $560.06 on Monday. Monolithic Power Systems has a 12-month low of $535.39 and a 12-month high of $959.64. The firm has a market capitalization of $27.32 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. The firm has a fifty day moving average of $846.27 and a two-hundred day moving average of $826.59.

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

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 56.37%.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Deming Xiao sold 9,259 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total value of $8,796,050.00. Following the sale, the executive vice president now directly owns 20,455 shares in the company, valued at $19,432,250. This trade represents a 31.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Theodore Blegen sold 734 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $765.15, for a total transaction of $561,620.10. Following the transaction, the chief financial officer now directly owns 55,944 shares of the company’s stock, valued at $42,805,551.60. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,359 shares of company stock valued at $26,709,571 in the last three months. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of MPWR. Family Firm Inc. acquired a new stake in Monolithic Power Systems during the second quarter worth $25,000. NBC Securities Inc. lifted its holdings in shares of Monolithic Power Systems by 433.3% during the 3rd quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of Monolithic Power Systems by 3,400.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Monolithic Power Systems in the third quarter valued at about $36,000. Finally, Atwood & Palmer Inc. bought a new stake in Monolithic Power Systems in the second quarter valued at about $33,000. 93.46% of the stock is currently owned by institutional investors.

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.