Needham & Company LLC Reaffirms “Buy” Rating for Monolithic Power Systems (NASDAQ:MPWR)

Needham & Company LLC restated their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $800.00 target price on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. KeyCorp increased their target price on Monolithic Power Systems to $850.00 and gave the company an overweight rating in a research note on Monday, April 8th. TD Cowen increased their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Finally, Oppenheimer boosted their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $716.90.

Monolithic Power Systems Stock Performance

Shares of MPWR traded down $5.67 during trading hours on Thursday, hitting $707.22. The company had a trading volume of 585,707 shares, compared to its average volume of 544,973. Monolithic Power Systems has a 52-week low of $383.19 and a 52-week high of $778.15. The firm has a fifty day moving average price of $678.85 and a 200-day moving average price of $616.32. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 84.29, a P/E/G ratio of 3.78 and a beta of 1.22.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. The firm had revenue of $454.01 million during the quarter, compared to analysts’ expectations of $452.13 million. Research analysts anticipate that Monolithic Power Systems will post 10.05 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $1.25 dividend. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. The ex-dividend date was Wednesday, March 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.71%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 59.59%.

Insider Buying and Selling at Monolithic Power Systems

In other news, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the transaction, the insider now owns 208,580 shares in the company, valued at approximately $141,834,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeff Zhou sold 200 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $750.57, for a total transaction of $150,114.00. Following the completion of the transaction, the director now directly owns 6,269 shares in the company, valued at approximately $4,705,323.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Deming Xiao sold 859 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $680.00, for a total transaction of $584,120.00. Following the sale, the insider now owns 208,580 shares in the company, valued at approximately $141,834,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,077 shares of company stock valued at $30,986,274. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in Monolithic Power Systems during the first quarter valued at about $27,000. OFI Invest Asset Management bought a new stake in Monolithic Power Systems during the 1st quarter valued at approximately $31,000. Arlington Trust Co LLC lifted its holdings in Monolithic Power Systems by 56.1% in the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 23 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Monolithic Power Systems in the 4th quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Monolithic Power Systems by 23.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 15 shares in the last quarter. 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.