Truist Financial Reaffirms Buy Rating for Monolithic Power Systems (NASDAQ:MPWR)

Truist Financial reiterated their buy rating on shares of Monolithic Power Systems (NASDAQ:MPWR) in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a $994.00 target price on the semiconductor company’s stock, up from their prior target price of $918.00.

Several other brokerages also recently issued reports on MPWR. TD Cowen upgraded shares of Monolithic Power Systems to a strong-buy rating in a research report on Monday, September 16th. Rosenblatt Securities increased their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a buy rating in a research note on Monday, July 29th. Needham & Company LLC boosted their price objective on shares of Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a buy rating in a research report on Monday, August 5th. KeyCorp upped their price objective on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the company a buy rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $959.90.

Monolithic Power Systems Trading Up 1.4 %

Shares of Monolithic Power Systems stock opened at $935.61 on Wednesday. Monolithic Power Systems has a 1-year low of $392.10 and a 1-year high of $959.64. The firm’s 50-day moving average price is $879.02 and its two-hundred day moving average price is $790.25. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 111.51, a P/E/G ratio of 4.13 and a beta of 1.12.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. As a group, equities research analysts predict that Monolithic Power Systems will post 10.41 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.53%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 10,999 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $843.83, for a total transaction of $9,281,286.17. Following the transaction, the executive vice president now owns 118,876 shares in the company, valued at approximately $100,311,135.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Maurice Sciammas sold 10,999 shares of Monolithic Power Systems stock in a transaction on Monday, July 8th. The shares were sold at an average price of $843.83, for a total transaction of $9,281,286.17. Following the transaction, the executive vice president now directly owns 118,876 shares of the company’s stock, valued at $100,311,135.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 10,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total transaction of $9,500,000.00. Following the completion of the sale, the executive vice president now owns 29,714 shares of the company’s stock, valued at approximately $28,228,300. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,534 shares of company stock worth $50,452,525. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Monolithic Power Systems by 19.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock worth $37,583,000 after buying an additional 9,125 shares during the period. Cim LLC acquired a new stake in Monolithic Power Systems in the fourth quarter valued at $2,197,000. Cetera Investment Advisers increased its stake in shares of Monolithic Power Systems by 237.3% during the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after purchasing an additional 4,760 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Monolithic Power Systems by 4.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after buying an additional 5,335 shares during the last quarter. Finally, Czech National Bank raised its stake in Monolithic Power Systems by 9.8% in the second quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock valued at $7,620,000 after buying an additional 824 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.