Monolithic Power Systems (NASDAQ:MPWR) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Monolithic Power Systems (NASDAQ:MPWR – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently issued reports on MPWR. Weiss Ratings cut Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 31st. Raymond James Financial reissued an “outperform” rating on shares of Monolithic Power Systems in a research note on Wednesday, August 12th. Zacks Research upgraded Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 18th. Truist Financial boosted their target price on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Arete Research set a $2,013.00 target price on Monolithic Power Systems and gave the stock a “buy” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and a consensus target price of $1,731.42.

Check Out Our Latest Research Report on Monolithic Power Systems

Monolithic Power Systems Stock Up 5.8%

NASDAQ:MPWR opened at $1,439.73 on Friday. The business’s 50-day moving average price is $1,302.39 and its 200 day moving average price is $1,372.42. The firm has a market cap of $70.75 billion, a P/E ratio of 88.27 and a beta of 1.68. Monolithic Power Systems has a 52-week low of $833.18 and a 52-week high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating analysts’ consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company had revenue of $980.64 million during the quarter, compared to the consensus estimate of $903.30 million. During the same period in the prior year, the company earned $4.21 EPS. Monolithic Power Systems’s revenue was up 47.6% on a year-over-year basis. Sell-side analysts expect that Monolithic Power Systems will post 23.35 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, September 30th. Monolithic Power Systems’s payout ratio is presently 49.05%.

Insider Buying and Selling at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 30 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the sale, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the completion of the sale, the director directly owned 515 shares of the company’s stock, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 130 shares of company stock worth $175,397. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Monolithic Power Systems during the 2nd quarter valued at about $7,727,289,000. State Street Corp lifted its position in shares of Monolithic Power Systems by 4.3% in the second quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock worth $3,159,219,000 after purchasing an additional 93,732 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Monolithic Power Systems by 3,719.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock worth $1,855,476,000 after purchasing an additional 1,993,576 shares during the period. Invesco Ltd. boosted its holdings in shares of Monolithic Power Systems by 25.9% during the fourth quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock worth $1,300,345,000 after purchasing an additional 295,556 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Monolithic Power Systems by 42.3% during the second quarter. Van ECK Associates Corp now owns 746,237 shares of the semiconductor company’s stock worth $1,031,568,000 after purchasing an additional 221,666 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Company Profile

(Get Free Report)

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company’s product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.

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Analyst Recommendations for Monolithic Power Systems (NASDAQ:MPWR)

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