Monolithic Power Systems, Inc. (NASDAQ:MPWR) Declares Quarterly Dividend of $0.75

kopsource · Sep 28, 2022 09:12

Monolithic Power Systems, Inc. (NASDAQ:MPWR – Get Rating) announced a quarterly dividend on Thursday, September 15th, Zacks reports. Shareholders of record on Friday, September 30th will be paid a dividend of 0.75 per share by the semiconductor company on Friday, October 14th. This represents a $3.00 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, September 29th.

Monolithic Power Systems has raised its dividend by an average of 26.0% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Monolithic Power Systems has a dividend payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Monolithic Power Systems to earn $11.41 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 26.3%.

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Monolithic Power Systems Stock Up 1.4 %

Shares of Monolithic Power Systems stock opened at $372.66 on Wednesday. The stock has a market capitalization of $17.44 billion, a P/E ratio of 53.47, a PEG ratio of 1.53 and a beta of 1.10. The stock has a 50 day moving average price of $462.97 and a two-hundred day moving average price of $438.30. Monolithic Power Systems has a 12-month low of $348.02 and a 12-month high of $580.00.

Monolithic Power Systems (NASDAQ:MPWR – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The semiconductor company reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.31. Monolithic Power Systems had a return on equity of 26.57% and a net margin of 22.40%. The company had revenue of $461.00 million during the quarter, compared to analysts' expectations of $430.59 million. During the same period in the prior year, the business earned $1.17 earnings per share. Monolithic Power Systems's revenue for the quarter was up 57.2% compared to the same quarter last year. Sell-side analysts anticipate that Monolithic Power Systems will post 9.59 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MPWR. Cowen increased their price objective on Monolithic Power Systems from $550.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, August 2nd. KeyCorp increased their price objective on Monolithic Power Systems from $570.00 to $580.00 and gave the company an "overweight" rating in a research report on Tuesday, August 2nd. Raymond James reduced their price objective on Monolithic Power Systems from $600.00 to $570.00 and set an "outperform" rating for the company in a research report on Tuesday, August 2nd. Oppenheimer upped their target price on Monolithic Power Systems from $500.00 to $550.00 in a research note on Tuesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Monolithic Power Systems from $457.00 to $530.00 in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $565.63.

Insiders Place Their Bets

In other Monolithic Power Systems news, VP Maurice Sciammas sold 5,184 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $529.61, for a total transaction of $2,745,498.24. Following the completion of the transaction, the vice president now directly owns 216,168 shares in the company, valued at $114,484,734.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Monolithic Power Systems news, VP Maurice Sciammas sold 5,184 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $529.61, for a total transaction of $2,745,498.24. Following the completion of the transaction, the vice president now directly owns 216,168 shares in the company, valued at $114,484,734.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theodore Blegen sold 950 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $361.58, for a total value of $343,501.00. Following the transaction, the chief financial officer now owns 129,043 shares of the company's stock, valued at $46,659,367.94. The disclosure for this sale can be found here. Insiders sold 47,282 shares of company stock worth $20,708,092 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Monolithic Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Utah Retirement Systems increased its stake in shares of Monolithic Power Systems by 0.4% in the first quarter. Utah Retirement Systems now owns 8,126 shares of the semiconductor company's stock valued at $3,947,000 after buying an additional 31 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Monolithic Power Systems in the first quarter valued at $27,000. Lido Advisors LLC boosted its holdings in Monolithic Power Systems by 5.9% in the first quarter. Lido Advisors LLC now owns 1,153 shares of the semiconductor company's stock valued at $559,000 after acquiring an additional 64 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Monolithic Power Systems by 14.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 570 shares of the semiconductor company's stock valued at $219,000 after acquiring an additional 70 shares during the last quarter. Finally, SVB Wealth LLC boosted its holdings in Monolithic Power Systems by 13.0% in the second quarter. SVB Wealth LLC now owns 653 shares of the semiconductor company's stock valued at $250,000 after acquiring an additional 75 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About Monolithic Power Systems

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Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer 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 portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.