KeyCorp Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $700.00

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

Several other research analysts have also recently commented on MPWR. Raymond James boosted their price target on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their target price on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. Finally, TD Cowen dropped their target price on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and an average price target of $872.18.

Monolithic Power Systems Stock Up 1.1 %

Shares of NASDAQ:MPWR opened at $566.04 on Monday. The company has a market capitalization of $27.61 billion, a price-to-earnings ratio of 63.82, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. The company has a 50 day moving average of $839.56 and a two-hundred day moving average of $824.73. Monolithic Power Systems has a 52-week low of $538.00 and a 52-week high of $959.64.

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

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s payout ratio is 56.37%.

Insider Buying and Selling

In other news, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares in the company, valued at approximately $96,518,400.11. This represents a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deming Xiao sold 9,259 shares of Monolithic Power Systems stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the sale, the executive vice president now owns 20,455 shares in the company, valued at approximately $19,432,250. This represents a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,359 shares of company stock valued at $26,709,571. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Monolithic Power Systems

Large investors have recently made changes to their positions in the company. Family Firm Inc. bought a new position in Monolithic Power Systems in the 2nd quarter worth approximately $25,000. NBC Securities Inc. increased its holdings in shares of Monolithic Power Systems by 433.3% during the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Monolithic Power Systems by 3,400.0% during the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Monolithic Power Systems in the second quarter worth about $33,000. Finally, Crewe Advisors LLC increased its stake in Monolithic Power Systems by 126.3% during the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

About Monolithic Power Systems

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.