Wells Fargo & Company Issues Positive Forecast for Monolithic Power Systems (NASDAQ:MPWR) Stock Price

Monolithic Power Systems (NASDAQ:MPWR) had its target price boosted by Wells Fargo & Company from $610.00 to $710.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on MPWR. TD Cowen reduced their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Rosenblatt Securities restated a “neutral” rating and set a $880.00 target price on shares of Monolithic Power Systems in a research report on Thursday. Oppenheimer lowered their target price on shares of Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Needham & Company LLC increased their price target on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Finally, Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target on the stock in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $866.17.

Monolithic Power Systems Stock Performance

MPWR stock opened at $720.25 on Friday. The firm has a market cap of $35.13 billion, a PE ratio of 19.59, a PEG ratio of 2.53 and a beta of 1.03. The firm’s 50 day moving average price is $618.61 and its 200-day moving average price is $754.03. Monolithic Power Systems has a one year low of $546.71 and a one year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing the consensus estimate 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 research analysts predict that Monolithic Power Systems will post 13 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis 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 of this dividend is Monday, March 31st. Monolithic Power Systems’s payout ratio is presently 13.60%.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the transaction, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at approximately $32,066,400. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Monolithic Power Systems by 11.4% in the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after acquiring an additional 361,416 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Monolithic Power Systems by 73.3% in the 4th quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after purchasing an additional 328,203 shares during the period. Raymond James Financial Inc. acquired a new stake in Monolithic Power Systems during the fourth quarter worth about $140,795,000. Geode Capital Management LLC grew its holdings in shares of Monolithic Power Systems by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after purchasing an additional 133,838 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock valued at $114,281,000 after buying an additional 123,481 shares during the period. Institutional investors own 93.46% of the company’s stock.

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.