Key Points
- CFO Frank Anthony Balow III sold 20 shares for $28,686.20 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 0.68%; he retained 2,921 shares.
- Monolithic Power Systems beat quarterly expectations, reporting EPS of $8.19 versus $7.79 expected and revenue of $1.20 billion versus $1.16 billion expected. Revenue rose 63.1% year over year.
- Shares fell 3.9% on Friday to $1,390.54. Analysts’ consensus rating remained “Buy,” with an average price target of $1,783.77.
Monolithic Power Systems, Inc. (NASDAQ:MPWR - Get Free Report) CFO Frank Anthony Balow III sold 20 shares of Monolithic Power Systems stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $1,434.31, for a total transaction of $28,686.20. Following the transaction, the chief financial officer directly owned 2,921 shares of the company's stock, valued at approximately $4,189,619.51. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Monolithic Power Systems Stock Down 3.9%
Shares of MPWR traded down $56.86 during trading hours on Friday, hitting $1,390.54. The company had a trading volume of 737,145 shares, compared to its average volume of 1,127,662. The firm has a market cap of $67.82 billion, a price-to-earnings ratio of 76.78 and a beta of 1.71. The business has a fifty day moving average of $1,284.98 and a 200-day moving average of $1,324.28. Monolithic Power Systems, Inc. has a 12 month low of $833.18 and a 12 month high of $1,714.09.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.79 by $0.40. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. Monolithic Power Systems's quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.73 EPS. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 23.72 EPS for the current fiscal year.
Monolithic Power Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Monolithic Power Systems's dividend payout ratio is currently 44.17%.
Institutional Investors Weigh In On Monolithic Power Systems
A number of institutional investors have recently modified their holdings of MPWR. BlackRock Inc. bought a new stake in Monolithic Power Systems in the 2nd quarter valued at about $7,727,289,000. Bank of America Corp DE acquired a new position in shares of Monolithic Power Systems during the 2nd quarter worth approximately $741,271,000. Legal & General Group Plc acquired a new position in shares of Monolithic Power Systems during the 2nd quarter worth approximately $497,561,000. Aberdeen Group plc increased its holdings in shares of Monolithic Power Systems by 814.0% during the third quarter. Aberdeen Group plc now owns 382,556 shares of the semiconductor company's stock worth $515,387,000 after purchasing an additional 340,702 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Monolithic Power Systems by 168.1% during the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock worth $517,557,000 after purchasing an additional 296,788 shares during the period. Institutional investors own 93.46% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Rosenblatt Securities upgraded shares of Monolithic Power Systems from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $1,575.00 to $1,700.00 in a research report on Friday, October 30th. Wells Fargo & Company decreased their target price on Monolithic Power Systems from $1,800.00 to $1,550.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 20th. Raymond James Financial reiterated an "outperform" rating on shares of Monolithic Power Systems in a research note on Wednesday, August 12th. Wall Street Zen raised Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Sunday, October 25th. Finally, TD Cowen reissued a "buy" rating on shares of Monolithic Power Systems in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Monolithic Power Systems has a consensus rating of "Buy" and an average target price of $1,783.77.
View Our Latest Stock Report on MPWR
Monolithic Power Systems Company Profile
(
Get Free Report)
Monolithic Power Systems, Inc. (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems. The company's products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications. MPS sells to customers around the world through direct sales and distribution channels.
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