KeyCorp Boosts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $975.00

Monolithic Power Systems (NASDAQ:MPWR) had its target price boosted by KeyCorp from $850.00 to $975.00 in a research report released on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Truist Financial lifted their price objective on Monolithic Power Systems from $789.00 to $799.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Oppenheimer lifted their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the stock an outperform rating in a research report on Thursday, June 13th. Finally, Needham & Company LLC restated a buy rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $806.13.

Monolithic Power Systems Stock Performance

MPWR stock opened at $830.95 on Tuesday. Monolithic Power Systems has a one year low of $392.10 and a one year high of $876.65. The company has a fifty day moving average of $778.65 and a 200-day moving average of $702.24. The stock has a market capitalization of $40.45 billion, a PE ratio of 99.04, a price-to-earnings-growth ratio of 4.30 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The company had revenue of $457.89 million for the quarter, compared to analyst estimates of $447.76 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. Equities analysts forecast that Monolithic Power Systems will post 10.37 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, June 28th. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Transactions at Monolithic Power Systems

In related news, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total transaction of $5,294,800.00. Following the completion of the transaction, the chief executive officer now owns 891,232 shares of the company’s stock, valued at $589,861,899.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $661.85, for a total transaction of $5,294,800.00. Following the completion of the sale, the chief executive officer now directly owns 891,232 shares in the company, valued at approximately $589,861,899.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kuo Wei Herbert Chang sold 200 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $735.00, for a total value of $147,000.00. Following the completion of the transaction, the director now directly owns 941 shares in the company, valued at $691,635. The disclosure for this sale can be found here. Insiders have sold a total of 81,310 shares of company stock worth $63,163,317 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Monolithic Power Systems

A number of institutional investors and hedge funds have recently bought and sold shares of MPWR. Alps Advisors Inc. lifted its position in Monolithic Power Systems by 5.0% during the third quarter. Alps Advisors Inc. now owns 696 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 33 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Monolithic Power Systems during the 3rd quarter valued at $692,000. Comerica Bank acquired a new position in shares of Monolithic Power Systems during the 3rd quarter valued at $4,862,000. Banque Pictet & Cie SA increased its holdings in Monolithic Power Systems by 34.8% in the 3rd quarter. Banque Pictet & Cie SA now owns 925 shares of the semiconductor company’s stock valued at $427,000 after purchasing an additional 239 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Monolithic Power Systems by 0.5% in the 3rd quarter. American Century Companies Inc. now owns 272,036 shares of the semiconductor company’s stock valued at $125,680,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds 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.