Monolithic Power Systems, Inc. (NASDAQ:MPWR) Announces Quarterly Earnings Results
Monolithic Power Systems, Inc. (NASDAQ:MPWR) announced its quarterly earnings data on Wednesday. The semiconductor company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01, Briefing.com reports. Monolithic Power Systems had a return on equity of 13.83% and a net margin of 14.00%. The business had revenue of $112.20 million during the quarter, compared to analyst estimates of $110.94 million. During the same period in the prior year, the company earned $0.54 earnings per share. Monolithic Power Systems’s revenue was up 19.3% compared to the same quarter last year.
Monolithic Power Systems (NASDAQ MPWR) traded up 1.77% during trading on Wednesday, hitting $106.79. The stock had a trading volume of 387,212 shares. The company has a 50-day moving average price of $99.08 and a 200-day moving average price of $93.06. Monolithic Power Systems has a 52-week low of $70.00 and a 52-week high of $107.87. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 79.75 and a beta of 1.22.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, June 28th. Monolithic Power Systems’s payout ratio is currently 60.15%.
In other news, Director James C. Moyer sold 2,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $91.36, for a total transaction of $182,720.00. Following the sale, the director now directly owns 834,758 shares in the company, valued at approximately $76,263,490.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deming Xiao sold 6,003 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $92.27, for a total transaction of $553,896.81. Following the sale, the insider now owns 295,457 shares in the company, valued at $27,261,817.39. The disclosure for this sale can be found here. Insiders have sold a total of 99,458 shares of company stock worth $9,457,369 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.
Several brokerages have weighed in on MPWR. Oppenheimer Holdings, Inc. increased their price objective on Monolithic Power Systems from $100.00 to $110.00 in a report on Monday. BidaskClub raised Monolithic Power Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered Monolithic Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Pacific Crest reissued an “overweight” rating and set a $110.00 price objective on shares of Monolithic Power Systems in a report on Wednesday, June 21st. Finally, Stifel Nicolaus reduced their price objective on Monolithic Power Systems from $105.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $102.29.
About Monolithic Power Systems
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company operates in the design, development, marketing and sale of power solutions for the communications, storage and computing, consumer and industrial markets segment.
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