Monolithic Power Systems (NASDAQ:MPWR) Sets New 52-Week High – Still a Buy?

Monolithic Power Systems, Inc. (NASDAQ:MPWR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $1,256.22 and last traded at $1,236.6890, with a volume of 59988 shares changing hands. The stock had previously closed at $1,213.67.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MPWR shares. Zacks Research upgraded Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Wells Fargo & Company upped their target price on Monolithic Power Systems from $1,200.00 to $1,350.00 and gave the company an “overweight” rating in a report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Monolithic Power Systems in a research report on Friday, October 31st. Truist Financial boosted their price objective on shares of Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Citigroup increased their price objective on shares of Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Monolithic Power Systems presently has an average rating of “Buy” and an average target price of $1,218.42.

Monolithic Power Systems Stock Performance

The stock has a market cap of $58.95 billion, a PE ratio of 96.82, a PEG ratio of 3.01 and a beta of 1.45. The business has a 50-day moving average of $1,058.04 and a 200 day moving average of $971.13.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.05. The business had revenue of $751.16 million during the quarter, compared to the consensus estimate of $741.69 million. Monolithic Power Systems had a net margin of 22.07% and a return on equity of 18.09%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $2.00 dividend. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.56. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 48.98%.

Insider Activity

In other news, EVP Maurice Sciammas sold 22,875 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $1,171.16, for a total transaction of $26,790,285.00. Following the completion of the transaction, the executive vice president owned 178,625 shares of the company’s stock, valued at $209,198,455. This represents a 11.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deming Xiao sold 22,875 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $1,171.16, for a total transaction of $26,790,285.00. Following the transaction, the executive vice president owned 235,932 shares in the company, valued at approximately $276,314,121.12. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,550 shares of company stock valued at $116,980,720 in the last three months. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Monolithic Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of MPWR. Covestor Ltd raised its holdings in shares of Monolithic Power Systems by 29.0% in the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 9 shares during the period. Resonant Capital Advisors LLC grew its holdings in Monolithic Power Systems by 4.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 253 shares of the semiconductor company’s stock worth $230,000 after purchasing an additional 10 shares during the period. True Wealth Design LLC increased its position in Monolithic Power Systems by 61.1% during the third quarter. True Wealth Design LLC now owns 29 shares of the semiconductor company’s stock worth $26,000 after buying an additional 11 shares during the last quarter. YANKCOM Partnership raised its stake in Monolithic Power Systems by 6.7% in the fourth quarter. YANKCOM Partnership now owns 176 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 11 shares during the period. Finally, First National Bank of Hutchinson lifted its position in shares of Monolithic Power Systems by 1.2% in the fourth quarter. First National Bank of Hutchinson now owns 948 shares of the semiconductor company’s stock valued at $859,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.