Monolithic Power Systems (NASDAQ:MPWR) Given New $615.00 Price Target at Citigroup

Monolithic Power Systems (NASDAQ:MPWR) had its price objective lowered by Citigroup from $800.00 to $615.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on the company. KeyCorp raised their target price on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Loop Capital raised their price objective on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Rosenblatt Securities dropped their target price on shares of Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Finally, Oppenheimer reiterated an “outperform” rating and set a $800.00 price objective on shares of Monolithic Power Systems in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Monolithic Power Systems has an average rating of “Moderate Buy” and an average price target of $844.50.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR opened at $533.13 on Friday. Monolithic Power Systems has a 52 week low of $438.86 and a 52 week high of $959.64. The firm’s fifty day moving average is $607.94 and its 200-day moving average is $668.99. The firm has a market cap of $25.52 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.60 and a beta of 1.21.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. As a group, sell-side analysts anticipate that Monolithic Power Systems will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.56 per share. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, March 31st. Monolithic Power Systems’s payout ratio is currently 16.97%.

Insider Activity

In related news, EVP Maurice Sciammas sold 7,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the transaction, the executive vice president now directly owns 16,015 shares in the company, valued at approximately $11,242,209.70. The trade was a 30.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPWR. Morse Asset Management Inc purchased a new stake in shares of Monolithic Power Systems during the third quarter valued at approximately $231,000. EP Wealth Advisors LLC bought a new position in Monolithic Power Systems in the 3rd quarter valued at $454,000. Barclays PLC increased its position in shares of Monolithic Power Systems by 5.0% during the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock valued at $297,799,000 after purchasing an additional 15,350 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Monolithic Power Systems by 386.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,500 shares of the semiconductor company’s stock worth $18,028,000 after purchasing an additional 15,493 shares during the period. Finally, World Investment Advisors LLC boosted its holdings in shares of Monolithic Power Systems by 14.6% in the 3rd quarter. World Investment Advisors LLC now owns 822 shares of the semiconductor company’s stock worth $760,000 after buying an additional 105 shares during 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.