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

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

Other analysts have also issued research reports about the stock. Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Truist Financial reiterated a “buy” rating and issued a $994.00 target price (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of 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. Wells Fargo & Company assumed coverage on shares of Monolithic Power Systems in a research report on Friday. They set an “equal weight” rating and a $610.00 price target on the stock. 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $840.36.

Monolithic Power Systems Stock Up 1.5 %

Shares of NASDAQ MPWR opened at $580.81 on Friday. The company’s 50-day simple moving average is $826.30 and its 200-day simple moving average is $822.71. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15.

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 the consensus estimate 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 company had revenue of $620.12 million during the quarter, compared to analyst estimates of $600.10 million. Equities research analysts anticipate that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Insiders Place Their Bets

In other news, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. The trade was a 9.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deming Xiao sold 866 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total transaction of $662,611.24. Following the completion of the sale, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,359 shares of company stock valued at $26,709,571 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC raised its stake in shares of Monolithic Power Systems by 3.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 326 shares of the semiconductor company’s stock valued at $268,000 after acquiring an additional 12 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Monolithic Power Systems by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 888 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 12 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Monolithic Power Systems by 2.5% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 499 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 12 shares during the period. Greenleaf Trust raised its stake in shares of Monolithic Power Systems by 1.5% in the 3rd quarter. Greenleaf Trust now owns 979 shares of the semiconductor company’s stock valued at $905,000 after acquiring an additional 14 shares during the period. Finally, Aptus Capital Advisors LLC raised its stake in shares of Monolithic Power Systems by 4.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 308 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 14 shares during the period. 93.46% of the stock is owned by hedge funds and other 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.