Monolithic Power Systems (NASDAQ:MPWR) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Monolithic Power Systems (NASDAQ:MPWR) from a hold rating to a buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on the company. Raymond James Financial reiterated an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Needham & Company LLC upped their price target on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. KeyCorp lifted their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $1,575.00 target price on shares of Monolithic Power Systems in a report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average target price of $1,692.64.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $1,140.12 on Friday. The company has a market cap of $56.03 billion, a P/E ratio of 69.90 and a beta of 1.68. Monolithic Power Systems has a fifty-two week low of $833.18 and a fifty-two week high of $1,714.09. The firm’s 50 day moving average is $1,286.36 and its two-hundred day moving average is $1,397.23.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating analysts’ consensus estimates of $5.87 by $0.63. The company had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. Monolithic Power Systems’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter last year, the business earned $4.21 EPS. Research analysts forecast that Monolithic Power Systems will post 23.95 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 49.05%.

Insider Activity at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the sale, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the transaction, the director directly owned 515 shares in the company, valued at approximately $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 130 shares of company stock valued at $175,397 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Monolithic Power Systems in the second quarter valued at $7,727,289,000. Bank of America Corp DE bought a new position in Monolithic Power Systems during the 2nd quarter valued at $741,271,000. Legal & General Group Plc acquired a new position in Monolithic Power Systems during the 2nd quarter worth $497,561,000. Royal Bank of Canada grew its holdings in Monolithic Power Systems by 168.1% during the 1st quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock worth $517,557,000 after acquiring an additional 296,788 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Monolithic Power Systems during the 2nd quarter worth $402,414,000. 93.46% of the stock is owned by institutional investors and hedge funds.

About Monolithic Power Systems

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help regulate, convert, distribute and control electrical power in electronic systems, supporting applications that require efficient and reliable power delivery.

The company’s portfolio includes integrated circuits, power modules, battery-management products, motor drivers, LED drivers and related analog and mixed-signal semiconductor solutions.