Monolithic Power Systems Inc. (MPWR) Given Buy Rating at Summit Redstone
Monolithic Power Systems Inc. (NASDAQ:MPWR)‘s stock had its “buy” rating restated by stock analysts at Summit Redstone in a report issued on Monday.
Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $76.00 price target (up previously from $68.00) on shares of Monolithic Power Systems in a research report on Wednesday, July 27th. William Blair reiterated an “outperform” rating on shares of Monolithic Power Systems in a research note on Monday, September 12th. Zacks Investment Research lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $75.00.
Shares of Monolithic Power Systems (NASDAQ:MPWR) traded down 1.49% during midday trading on Monday, reaching $76.95. The company’s stock had a trading volume of 182,218 shares. The firm has a 50-day moving average of $77.16 and a 200-day moving average of $70.04. The stock has a market cap of $3.12 billion, a PE ratio of 74.06 and a beta of 1.44. Monolithic Power Systems has a one year low of $55.05 and a one year high of $81.37.
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Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Monolithic Power Systems had a return on equity of 12.49% and a net margin of 12.08%. The firm had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $93.08 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts forecast that Monolithic Power Systems will post $2.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.02%. Monolithic Power Systems’s dividend payout ratio is currently 76.92%.
In other Monolithic Power Systems news, VP Saria Tseng sold 6,320 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $72.66, for a total value of $459,211.20. Following the transaction, the vice president now directly owns 280,056 shares in the company, valued at approximately $20,348,868.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Hsing sold 21,094 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $72.66, for a total value of $1,532,690.04. Following the completion of the transaction, the chief executive officer now owns 1,208,497 shares in the company, valued at $87,809,392.02. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in MPWR. Oregon Public Employees Retirement Fund purchased a new position in shares of Monolithic Power Systems during the third quarter valued at approximately $1,031,000. First Mercantile Trust Co. raised its position in shares of Monolithic Power Systems by 3.4% in the third quarter. First Mercantile Trust Co. now owns 18,291 shares of the company’s stock valued at $1,473,000 after buying an additional 594 shares during the period. Triangle Securities Wealth Management purchased a new position in shares of Monolithic Power Systems during the third quarter valued at approximately $204,000. KAMES CAPITAL plc purchased a new position in shares of Monolithic Power Systems during the second quarter valued at approximately $1,173,000. Finally, Mason Street Advisors LLC purchased a new position in shares of Monolithic Power Systems during the second quarter valued at approximately $495,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.
About Monolithic Power Systems
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company provides power solutions for systems found in industrial applications, telecommunication infrastructures, cloud computing, automotive and consumer applications.
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