Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $700.00 by Analysts at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its price target cut by KeyCorp from $1,075.00 to $700.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Raymond James lifted their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their target price on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 target price on shares of Monolithic Power Systems in a report on Monday, November 11th. TD Cowen decreased their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $872.18.

Monolithic Power Systems Stock Up 1.1 %

Shares of MPWR stock opened at $566.04 on Monday. The stock has a 50-day simple moving average of $839.56 and a 200 day simple moving average of $824.73. The stock has a market capitalization of $27.61 billion, a P/E ratio of 63.82, a P/E/G ratio of 2.79 and a beta of 1.15. Monolithic Power Systems has a fifty-two week low of $538.00 and a fifty-two week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.05). The business had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. On average, sell-side analysts anticipate that Monolithic Power Systems will post 10.46 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.88%. Monolithic Power Systems’s dividend payout ratio is 56.37%.

Insider Buying and Selling

In other news, EVP Deming Xiao sold 9,259 shares of Monolithic Power Systems stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the sale, the executive vice president now directly owns 20,455 shares in the company, valued at $19,432,250. The trade was a 31.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the sale, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,359 shares of company stock worth $26,709,571. 3.70% of the stock is owned by company insiders.

Institutional Trading of Monolithic Power Systems

Several large investors have recently added to or reduced their stakes in MPWR. Family Firm Inc. bought a new position in shares of Monolithic Power Systems during the 2nd quarter valued at $25,000. NBC Securities Inc. increased its position in Monolithic Power Systems by 433.3% during the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in Monolithic Power Systems by 3,400.0% during the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Monolithic Power Systems in the third quarter worth about $36,000. Finally, Atwood & Palmer Inc. acquired a new stake in shares of Monolithic Power Systems in the second quarter worth about $33,000. 93.46% of the stock is owned by institutional investors.

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.