Needham & Company LLC Cuts Monolithic Power Systems (NASDAQ:MPWR) Price Target to $600.00

Monolithic Power Systems (NASDAQ:MPWR) had its price target lowered by Needham & Company LLC from $950.00 to $600.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on MPWR. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Raymond James upped their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company assumed coverage on shares of Monolithic Power Systems in a research note on Friday. They issued an “equal weight” rating and a $610.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $900.00 target price on shares of Monolithic Power Systems in a research note on Monday, November 11th. Finally, KeyCorp dropped their price objective on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $840.36.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock opened at $580.81 on Friday. Monolithic Power Systems has a 1-year low of $538.00 and a 1-year high of $959.64. The firm has a market capitalization of $28.33 billion, a P/E ratio of 65.48, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. The company’s 50-day moving average is $826.30 and its 200 day moving average is $822.71.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 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%. Research analysts anticipate that Monolithic Power Systems will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a yield of 0.86%. Monolithic Power Systems’s dividend payout ratio (DPR) is 56.37%.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $908.36, for a total value of $2,270,900.00. Following the completion of the sale, the chief financial officer now directly owns 59,178 shares in the company, valued at $53,754,928.08. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deming Xiao sold 9,259 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $19,432,250. This trade represents a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,359 shares of company stock worth $26,709,571 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Family Firm Inc. purchased a new position in shares of Monolithic Power Systems in the second quarter worth $25,000. NBC Securities Inc. raised its holdings in shares of Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after buying an additional 34 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Monolithic Power Systems in the third quarter worth $36,000. Finally, Atwood & Palmer Inc. purchased a new position in shares of Monolithic Power Systems in the second quarter worth $33,000. Hedge funds and other institutional investors 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.