Monolithic Power Systems (NASDAQ:MPWR) Price Target Cut to $700.00 by Analysts at KeyCorp

Monolithic Power Systems (NASDAQ:MPWR) had its price target cut by KeyCorp from $1,075.00 to $700.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

MPWR has been the topic of several other research reports. Rosenblatt Securities downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital raised Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective on the stock in a research report on Monday. Oppenheimer reissued an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $950.00 price target on shares of Monolithic Power Systems in a report on Tuesday, November 12th. Finally, TD Cowen lowered their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $882.64.

Monolithic Power Systems Trading Up 2.5 %

NASDAQ MPWR opened at $587.84 on Monday. Monolithic Power Systems has a 1-year low of $535.39 and a 1-year high of $959.64. The stock has a 50-day moving average of $856.47 and a 200-day moving average of $828.33. The firm has a market cap of $28.67 billion, a PE ratio of 66.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The business had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. As a group, equities research analysts forecast that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.85%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Deming Xiao sold 866 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the sale, the executive vice president now directly owns 162,239 shares of the company’s stock, valued at approximately $124,135,548.46. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the completion of the sale, the chief financial officer now directly owns 61,678 shares in the company, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,359 shares of company stock valued at $36,209,571. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Monolithic Power Systems

Hedge funds have recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Monolithic Power Systems by 6.6% during the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after acquiring an additional 1,082 shares in the last quarter. Cetera Investment Advisers lifted its stake in Monolithic Power Systems by 237.3% in the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock valued at $4,583,000 after buying an additional 4,760 shares in the last quarter. Czech National Bank lifted its stake in Monolithic Power Systems by 9.8% in the 2nd quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock valued at $7,620,000 after buying an additional 824 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Monolithic Power Systems by 224.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company’s stock valued at $1,034,000 after buying an additional 1,057 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Monolithic Power Systems by 22.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,273 shares of the semiconductor company’s stock valued at $2,690,000 after buying an additional 592 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Company Profile

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.