Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $1,700.00 by Analysts at TD Cowen

Monolithic Power Systems (NASDAQ:MPWR) had its target price lowered by TD Cowen from $1,850.00 to $1,700.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the company. Wall Street Zen lowered Monolithic Power Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company increased their price objective on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Raymond James Financial reissued an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Needham & Company LLC upped their target price on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,724.79.

Monolithic Power Systems Trading Up 3.5%

NASDAQ MPWR opened at $1,253.66 on Monday. The stock’s 50 day moving average is $1,301.39 and its two-hundred day moving average is $1,395.09. The company has a market capitalization of $61.60 billion, a price-to-earnings ratio of 76.86 and a beta of 1.68. Monolithic Power Systems has a 1-year low of $833.18 and a 1-year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.63. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%. The company had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. During the same period in the prior year, the company posted $4.21 EPS. The company’s revenue was up 47.6% compared to the same quarter last year. On average, analysts predict that Monolithic Power Systems will post 23.95 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

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

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the transaction, the executive vice president directly owned 1,119 shares of the company’s stock, valued at $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 130 shares of company stock worth $175,397. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC acquired a new stake in Monolithic Power Systems in the second quarter worth $35,000. Danske Bank A S bought a new position in shares of Monolithic Power Systems during the second quarter worth $36,000. Continuum Advisory LLC bought a new position in shares of Monolithic Power Systems during the second quarter worth $43,000. GK Wealth Management LLC acquired a new position in shares of Monolithic Power Systems in the 3rd quarter valued at $43,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Monolithic Power Systems by 233.3% in the 1st quarter. Sunbelt Securities Inc. now owns 40 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

About Monolithic Power Systems

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help regulate, convert, distribute and control electrical power in electronic systems, supporting applications that require efficient and reliable power delivery.

The company’s portfolio includes integrated circuits, power modules, battery-management products, motor drivers, LED drivers and related analog and mixed-signal semiconductor solutions.