Monolithic Power Systems (NASDAQ:MPWR) Shares Climb 13.3% – Here’s Why

Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) were up 13.3% during trading on Monday. The company traded as high as $1,336.27 and last traded at $1,348.8750. 237,168 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 755,601 shares. The stock had previously closed at $1,190.44.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer decreased their target price on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating on the stock in a report on Friday, October 23rd. Truist Financial upped their price target on shares of Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Wall Street Zen raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. Zacks Research raised Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Rosenblatt Securities upgraded Monolithic Power Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $1,575.00 to $1,700.00 in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Monolithic Power Systems currently has a consensus rating of “Buy” and an average price target of $1,783.77.

Monolithic Power Systems Stock Up 14.0%

The firm has a market capitalization of $66.16 billion, a P/E ratio of 74.95 and a beta of 1.71. The firm’s 50-day simple moving average is $1,267.39 and its 200-day simple moving average is $1,315.87.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $8.19 EPS for the quarter, topping analysts’ consensus estimates of $7.79 by $0.40. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.73 EPS. As a group, analysts expect that Monolithic Power Systems, Inc. will post 23.72 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 44.17%.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction dated 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 completion of the sale, the director owned 515 shares of the company’s stock, valued at $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Monolithic Power Systems

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Monolithic Power Systems by 1,418.0% during the third quarter. International Assets Investment Management LLC now owns 4,038 shares of the semiconductor company’s stock valued at $5,440,000 after acquiring an additional 3,772 shares during the last quarter. Generate Investment Management Ltd lifted its holdings in shares of Monolithic Power Systems by 45.8% in the 3rd quarter. Generate Investment Management Ltd now owns 5,719 shares of the semiconductor company’s stock worth $7,705,000 after acquiring an additional 1,797 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Monolithic Power Systems by 10.3% in the 2nd quarter. Baird Financial Group Inc. now owns 81,895 shares of the semiconductor company’s stock valued at $113,210,000 after purchasing an additional 7,624 shares in the last quarter. Westwind Capital purchased a new stake in shares of Monolithic Power Systems in the 3rd quarter valued at $1,784,000. Finally, Wedmont Private Capital grew its holdings in shares of Monolithic Power Systems by 68.0% during the 3rd quarter. Wedmont Private Capital now owns 2,006 shares of the semiconductor company’s stock valued at $2,748,000 after purchasing an additional 812 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors.

About Monolithic Power Systems

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company’s products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.