KeyCorp Boosts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $580.00

Monolithic Power Systems (NASDAQ:MPWR – Get Rating) had its price objective hoisted by KeyCorp from $570.00 to $580.00 in a report released on Tuesday morning, MarketBeat.com reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on the stock. Cowen set a $550.00 target price on shares of Monolithic Power Systems in a research note on Tuesday, July 19th. Truist Financial dropped their target price on shares of Monolithic Power Systems from $568.00 to $545.00 in a report on Friday, April 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monolithic Power Systems from $457.00 to $530.00 in a report on Tuesday. Needham & Company LLC lifted their target price on shares of Monolithic Power Systems from $500.00 to $550.00 and gave the company a buy rating in a research report on Tuesday. Finally, Oppenheimer boosted their price target on shares of Monolithic Power Systems from $500.00 to $550.00 in a research report on Tuesday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $569.70.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $532.33 on Tuesday. The firm has a 50-day moving average of $426.87 and a two-hundred day moving average of $427.63. The stock has a market cap of $24.83 billion, a P/E ratio of 76.37, a PEG ratio of 2.41 and a beta of 1.10. Monolithic Power Systems has a 1-year low of $348.02 and a 1-year high of $580.00.

Monolithic Power Systems (NASDAQ:MPWR – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The semiconductor company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.94 by $0.31. Monolithic Power Systems had a net margin of 22.40% and a return on equity of 26.57%. The company had revenue of $461.00 million for the quarter, compared to analyst estimates of $430.59 million. During the same quarter last year, the business earned $1.17 earnings per share. Monolithic Power Systems’s revenue was up 57.2% compared to the same quarter last year. As a group, equities analysts expect that Monolithic Power Systems will post 8.72 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.75 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $3.00 annualized dividend and a yield of 0.56%. Monolithic Power Systems’s payout ratio is presently 43.04%.

Insider Buying and Selling at Monolithic Power Systems

In related news, CEO Michael Hsing sold 11,495 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $361.57, for a total transaction of $4,156,247.15. Following the sale, the chief executive officer now directly owns 1,026,928 shares of the company’s stock, valued at $371,306,356.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Monolithic Power Systems news, insider Deming Xiao sold 4,298 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $392.44, for a total transaction of $1,686,707.12. Following the completion of the transaction, the insider now owns 288,084 shares of the company’s stock, valued at $113,055,684.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Hsing sold 11,495 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $361.57, for a total transaction of $4,156,247.15. Following the completion of the transaction, the chief executive officer now directly owns 1,026,928 shares of the company’s stock, valued at approximately $371,306,356.96. The disclosure for this sale can be found here. Insiders sold a total of 21,458 shares of company stock valued at $7,922,989 in the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Monolithic Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scotia Capital Inc. grew its position in Monolithic Power Systems by 0.6% in the 2nd quarter. Scotia Capital Inc. now owns 3,090 shares of the semiconductor company’s stock valued at $1,187,000 after buying an additional 19 shares during the last quarter. Glassman Wealth Services boosted its position in shares of Monolithic Power Systems by 58.5% in the 2nd quarter. Glassman Wealth Services now owns 65 shares of the semiconductor company’s stock worth $25,000 after buying an additional 24 shares in the last quarter. XML Financial LLC raised its stake in Monolithic Power Systems by 3.4% in the 2nd quarter. XML Financial LLC now owns 754 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 25 shares during the last quarter. UMB Bank N A MO raised its stake in Monolithic Power Systems by 8.6% in the 1st quarter. UMB Bank N A MO now owns 327 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 26 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Monolithic Power Systems by 3.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 916 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

About Monolithic Power Systems

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Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer 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 portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.