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

Monolithic Power Systems, Inc. (NASDAQ:MPWR) shares 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 trading hands.

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 of this dividend is Monday, March 31st. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a yield of 0.87%. Monolithic Power Systems’s dividend payout ratio is presently 56.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup assumed coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 target price on the stock. Loop Capital increased 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. Rosenblatt Securities restated a “neutral” rating and set a $880.00 target price on shares of Monolithic Power Systems in a report on Thursday. TD Cowen reduced 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 report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on Monolithic Power Systems from $610.00 to $710.00 and gave the company an “equal weight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $866.17.

Monolithic Power Systems Stock Up 9.0 %

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

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data 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 return on equity of 20.44% and a net margin of 21.29%. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current year.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems 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 completion of the transaction, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. The trade was a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Monolithic Power Systems

Several large investors have recently modified their holdings of the stock. FMR LLC grew its holdings 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 purchasing an additional 361,416 shares in the last quarter. State Street Corp lifted its holdings 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 acquiring an additional 42,678 shares during the period. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 133,838 shares during the period. Van ECK Associates Corp increased its stake in shares of Monolithic Power Systems by 73.3% in the 4th quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after purchasing an additional 328,203 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Monolithic Power Systems by 11.6% in the 4th quarter. Bank of New York Mellon Corp now owns 349,922 shares of the semiconductor company’s stock valued at $207,049,000 after purchasing an additional 36,323 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.