Monolithic Power Systems (NASDAQ:MPWR) Shares Gap Up After Dividend Announcement

Monolithic Power Systems, Inc. (NASDAQ:MPWR) gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $660.90, but opened at $686.70. Monolithic Power Systems shares last traded at $710.79, with a volume of 1,038,106 shares traded.

The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.56 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.24 dividend on an annualized basis and a yield of 0.87%. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. Monolithic Power Systems’s payout ratio is presently 56.37%.

Analyst Upgrades and Downgrades

MPWR has been the topic of a number of analyst reports. KeyCorp upped their target price on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen cut their target price on 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. Oppenheimer lowered their target price on shares of Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Loop Capital upped their target price on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC upped their target price on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $866.17.

Monolithic Power Systems Stock Up 9.0 %

The stock’s 50-day moving average price is $615.56 and its 200-day moving average price is $755.86. The company has a market capitalization of $35.13 billion, a price-to-earnings ratio of 81.20, a price-to-earnings-growth ratio of 2.44 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. On average, equities research analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Insider Activity

In other news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $600.00, for a total value of $1,500,000.00. Following the transaction, the chief financial officer now owns 53,444 shares of the company’s stock, valued at $32,066,400. This represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MPWR. FMR LLC grew its position in shares of Monolithic Power Systems by 11.4% during the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after buying an additional 361,416 shares during the period. State Street Corp grew its position in shares of Monolithic Power Systems by 2.1% during the 3rd quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock worth $1,930,301,000 after buying an additional 42,678 shares during the period. Geode Capital Management LLC grew its position in shares of Monolithic Power Systems by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after buying an additional 133,838 shares during the period. Van ECK Associates Corp raised its holdings in Monolithic Power Systems by 73.3% in the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock worth $459,174,000 after purchasing an additional 328,203 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Monolithic Power Systems by 11.6% in the fourth quarter. Bank of New York Mellon Corp now owns 349,922 shares of the semiconductor company’s stock worth $207,049,000 after purchasing an additional 36,323 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.