Needham & Company LLC Reaffirms Buy Rating for Monolithic Power Systems (NASDAQ:MPWR)

Needham & Company LLC reissued their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $800.00 price objective on the semiconductor company’s stock.

MPWR has been the topic of several other reports. KeyCorp upped their price objective on Monolithic Power Systems to $850.00 and gave the stock an overweight rating in a report on Monday, April 8th. Oppenheimer increased their price objective on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Finally, TD Cowen boosted their target price on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $743.78.

Monolithic Power Systems Stock Performance

Shares of NASDAQ:MPWR opened at $707.22 on Thursday. The firm has a market cap of $34.41 billion, a price-to-earnings ratio of 84.29, a P/E/G ratio of 3.64 and a beta of 1.22. The firm has a fifty day moving average price of $678.85 and a 200 day moving average price of $617.41. Monolithic Power Systems has a fifty-two week low of $383.19 and a fifty-two week high of $778.15.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. The company had revenue of $454.01 million for the quarter, compared to the consensus estimate of $452.13 million. As a group, research analysts predict that Monolithic Power Systems will post 10.05 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s payout ratio is 59.59%.

Insider Activity

In related news, Director Jeff Zhou sold 200 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $750.57, for a total transaction of $150,114.00. Following the completion of the transaction, the director now owns 6,269 shares in the company, valued at approximately $4,705,323.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Monolithic Power Systems news, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total value of $5,294,800.00. Following the transaction, the chief executive officer now directly owns 891,232 shares in the company, valued at approximately $589,861,899.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Zhou sold 200 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $750.57, for a total transaction of $150,114.00. Following the transaction, the director now directly owns 6,269 shares in the company, valued at $4,705,323.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,077 shares of company stock valued at $30,986,274. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in shares of Monolithic Power Systems in the 1st quarter worth $27,000. OFI Invest Asset Management purchased a new stake in Monolithic Power Systems in the first quarter worth about $31,000. Arlington Trust Co LLC grew its holdings in Monolithic Power Systems by 56.1% during the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 23 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Monolithic Power Systems during the 4th quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Monolithic Power Systems by 23.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 15 shares in the last quarter. Institutional investors 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.