Zacks Investment Research upgraded shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Monolithic Power Systems, Inc. (MPWR) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS’ mission is to reduce total energy consumption in our customers’ systems and service our customers with green, practical, compact solutions. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world. The company was founded by Michael R. Hsing and James C. Moyer in 1997 and is headquartered in San Jose, CA. “
Other research analysts have also recently issued research reports about the stock. Oppenheimer Holdings, Inc. boosted their price objective on shares of Monolithic Power Systems from $100.00 to $110.00 in a report on Monday, July 24th. BidaskClub cut shares of Monolithic Power Systems from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Needham & Company LLC restated a buy rating and set a $140.00 price objective (up previously from $100.00) on shares of Monolithic Power Systems in a report on Thursday, July 27th. Stifel Nicolaus restated a buy rating and set a $117.00 price objective (up previously from $110.00) on shares of Monolithic Power Systems in a report on Thursday, July 27th. Finally, KeyCorp restated a buy rating and set a $115.00 price objective on shares of Monolithic Power Systems in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $112.63.
Shares of Monolithic Power Systems (NASDAQ MPWR) opened at 103.26 on Wednesday. The company has a 50 day moving average of $101.19 and a 200 day moving average of $96.71. Monolithic Power Systems has a 12 month low of $75.04 and a 12 month high of $107.87. The stock has a market cap of $4.27 billion, a P/E ratio of 72.82 and a beta of 1.22.
Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $110.94 million. Monolithic Power Systems had a net margin of 14.30% and a return on equity of 14.10%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. Equities research analysts expect that Monolithic Power Systems will post $2.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, September 28th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.74%.
In other news, Director James C. Moyer sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $105.20, for a total value of $1,578,000.00. Following the completion of the transaction, the director now owns 761,201 shares in the company, valued at $80,078,345.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 459 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $101.42, for a total transaction of $46,551.78. Following the completion of the transaction, the chief financial officer now owns 41,445 shares of the company’s stock, valued at approximately $4,203,351.90. The disclosure for this sale can be found here. Insiders sold 117,730 shares of company stock valued at $11,943,358 in the last quarter. Corporate insiders own 4.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Monolithic Power Systems in the second quarter worth $121,000. D.A. Davidson & CO. lifted its position in shares of Monolithic Power Systems by 13.2% in the second quarter. D.A. Davidson & CO. now owns 1,473 shares of the semiconductor company’s stock worth $141,000 after purchasing an additional 172 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Monolithic Power Systems by 115.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,552 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 832 shares in the last quarter. Segantii Capital Management Ltd bought a new stake in shares of Monolithic Power Systems in the first quarter worth $157,000. Finally, Fortaleza Asset Management Inc. lifted its position in shares of Monolithic Power Systems by 50.2% in the second quarter. Fortaleza Asset Management Inc. now owns 1,915 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 640 shares in the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.
Monolithic Power Systems Company Profile
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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