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

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

MPWR has been the subject of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $900.00 target price on shares of Monolithic Power Systems in a report on Monday, November 11th. Wells Fargo & Company initiated coverage on Monolithic Power Systems in a research report on Friday. They set an “equal weight” rating and a $610.00 price objective for the company. 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 note on Friday, August 2nd. Rosenblatt Securities cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Truist Financial reissued a “buy” rating and issued a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $840.36.

Monolithic Power Systems Stock Up 3.5 %

Shares of NASDAQ MPWR opened at $600.86 on Friday. The business has a 50-day moving average price of $826.30 and a 200 day moving average price of $823.48. The stock has a market cap of $29.31 billion, a PE ratio of 65.48, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results 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 return on equity of 20.44% and a net margin of 21.29%. The business had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. Sell-side analysts anticipate that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.83%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Insider Activity

In related news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the completion of the transaction, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the sale, the executive vice president now directly owns 103,829 shares in the company, valued at $96,518,400.11. This trade represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,100 shares of company stock worth $17,913,521 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after acquiring an additional 361,416 shares during the last quarter. State Street Corp boosted its stake in shares of Monolithic Power Systems by 2.1% in the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after purchasing an additional 42,678 shares during the period. Geode Capital Management LLC boosted its position in Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after buying an additional 133,838 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Monolithic Power Systems by 26.3% in the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after purchasing an additional 93,362 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Monolithic Power Systems by 5.0% during the third quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after buying an additional 15,350 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.