Monolithic Power Systems (NASDAQ:MPWR) Given New $275.00 Price Target at Raymond James

Monolithic Power Systems (NASDAQ:MPWR) had its target price upped by Raymond James from $215.00 to $275.00 in a research note released on Wednesday morning, The Fly reports. Raymond James currently has an outperform rating on the semiconductor company’s stock.

MPWR has been the subject of a number of other reports. Needham & Company LLC raised their price target on Monolithic Power Systems from $265.00 to $275.00 and gave the company a buy rating in a research note on Wednesday. Loop Capital reduced their target price on Monolithic Power Systems from $210.00 to $195.00 and set a buy rating for the company in a research note on Wednesday, April 8th. ValuEngine downgraded Monolithic Power Systems from a buy rating to a hold rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their target price on Monolithic Power Systems from $185.00 to $208.00 and gave the stock a buy rating in a research note on Thursday, April 16th. Finally, Cowen lifted their target price on Monolithic Power Systems from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $262.22.

MPWR stock opened at $265.01 on Wednesday. The business has a 50 day moving average price of $237.36 and a two-hundred day moving average price of $196.03. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 100.38, a P/E/G ratio of 3.94 and a beta of 1.22. Monolithic Power Systems has a twelve month low of $130.12 and a twelve month high of $271.94.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The firm had revenue of $186.21 million during the quarter, compared to the consensus estimate of $169.79 million. Monolithic Power Systems had a return on equity of 15.41% and a net margin of 18.60%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. On average, equities analysts forecast that Monolithic Power Systems will post 2.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.00 annualized dividend and a yield of 0.75%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 79.05%.

In related news, Director Jeff Zhou sold 500 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $198.00, for a total value of $99,000.00. Following the completion of the sale, the director now directly owns 15,259 shares in the company, valued at approximately $3,021,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theodore Blegen sold 3,177 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $208.67, for a total value of $662,944.59. Following the completion of the sale, the chief financial officer now owns 139,067 shares of the company’s stock, valued at $29,019,110.89. The disclosure for this sale can be found here. Insiders sold a total of 103,681 shares of company stock valued at $23,000,455 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MPWR. Norges Bank acquired a new stake in shares of Monolithic Power Systems during the 4th quarter worth $73,489,000. Wellington Management Group LLP grew its holdings in shares of Monolithic Power Systems by 15.2% during the 1st quarter. Wellington Management Group LLP now owns 2,070,255 shares of the semiconductor company’s stock worth $346,685,000 after purchasing an additional 273,269 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Monolithic Power Systems during the 1st quarter worth $40,469,000. Lord Abbett & CO. LLC grew its holdings in shares of Monolithic Power Systems by 52.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 572,156 shares of the semiconductor company’s stock worth $95,813,000 after purchasing an additional 197,077 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its holdings in shares of Monolithic Power Systems by 9.2% during the 1st quarter. Wasatch Advisors Inc. now owns 1,367,953 shares of the semiconductor company’s stock worth $229,077,000 after purchasing an additional 115,564 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

About Monolithic Power Systems

Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.

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