KeyCorp Raises Monolithic Power Systems (NASDAQ:MPWR) Price Target to $975.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target upped by KeyCorp from $850.00 to $975.00 in a research note issued to investors on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Oppenheimer boosted their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an outperform rating in a research report on Thursday, June 13th. Truist Financial upped their price target on shares of Monolithic Power Systems from $789.00 to $799.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a buy rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $806.13.

Monolithic Power Systems Trading Down 3.5 %

NASDAQ:MPWR opened at $830.95 on Tuesday. The company has a market capitalization of $40.45 billion, a P/E ratio of 99.04, a PEG ratio of 4.30 and a beta of 1.11. Monolithic Power Systems has a 12 month low of $392.10 and a 12 month high of $876.65. The firm has a fifty day simple moving average of $778.65 and a 200-day simple moving average of $702.24.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The company had revenue of $457.89 million during the quarter, compared to analysts’ expectations of $447.76 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. Equities analysts forecast that Monolithic Power Systems will post 10.37 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $1.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.00 annualized dividend and a yield of 0.60%. Monolithic Power Systems’s dividend payout ratio is presently 59.59%.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $808.20, for a total value of $29,978,562.60. Following the sale, the executive vice president now owns 166,428 shares in the company, valued at approximately $134,507,109.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Saria Tseng sold 37,093 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $808.20, for a total transaction of $29,978,562.60. Following the transaction, the executive vice president now owns 166,428 shares in the company, valued at approximately $134,507,109.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total value of $5,294,800.00. Following the transaction, the chief executive officer now owns 891,232 shares in the company, valued at approximately $589,861,899.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,310 shares of company stock worth $63,163,317. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Several large investors have recently bought and sold shares of MPWR. Alps Advisors Inc. increased its position in shares of Monolithic Power Systems by 5.0% during the third quarter. Alps Advisors Inc. now owns 696 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 33 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Monolithic Power Systems during the third quarter worth $692,000. Comerica Bank acquired a new stake in shares of Monolithic Power Systems in the third quarter valued at about $4,862,000. Banque Pictet & Cie SA lifted its stake in shares of Monolithic Power Systems by 34.8% in the third quarter. Banque Pictet & Cie SA now owns 925 shares of the semiconductor company’s stock worth $427,000 after buying an additional 239 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Monolithic Power Systems by 0.5% during the third quarter. American Century Companies Inc. now owns 272,036 shares of the semiconductor company’s stock worth $125,680,000 after acquiring an additional 1,273 shares during the last quarter. 93.46% of the stock is currently 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.