Wells Fargo & Company Initiates Coverage on Monolithic Power Systems (NASDAQ:MPWR)

Wells Fargo & Company initiated coverage on shares of Monolithic Power Systems (NASDAQ:MPWR) in a report issued on Friday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $610.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Oppenheimer reissued an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a research report on Monday, November 11th. TD Cowen dropped their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $994.00 target price (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $840.36.

Monolithic Power Systems Trading Up 3.5 %

NASDAQ:MPWR opened at $600.86 on Friday. The company has a 50-day moving average price of $826.30 and a 200-day moving average price of $823.48. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 65.48, a P/E/G ratio of 2.77 and a beta of 1.15. Monolithic Power Systems has a 12 month low of $538.00 and a 12 month 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 analysts’ consensus estimates of $3.04 by ($0.05). The company had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. Equities analysts forecast that Monolithic Power Systems will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a yield of 0.83%. Monolithic Power Systems’s payout ratio is currently 56.37%.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. The trade was a 9.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the sale, the chief financial officer now directly owns 61,678 shares in the company, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,100 shares of company stock valued at $17,913,521. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monolithic Power Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in shares of Monolithic Power Systems by 6.6% in the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after acquiring an additional 1,082 shares during the period. EULAV Asset Management boosted its position in Monolithic Power Systems by 8.6% in the third quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock worth $100,099,000 after purchasing an additional 8,600 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Monolithic Power Systems by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock valued at $3,741,000 after purchasing an additional 909 shares during the period. Cetera Investment Advisers increased its position 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 valued at $4,583,000 after purchasing an additional 4,760 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of Monolithic Power Systems by 1,118.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 45,733 shares of the semiconductor company’s stock valued at $42,280,000 after purchasing an additional 41,979 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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.