These Analysts Increase Their Forecasts On Monolithic Power Systems Following Earnings Beat

Author: Avi Kapoor | February 08, 2024 09:46am

Monolithic Power Systems, Inc. (NASDAQ:MPWR) reported better-than-expected fourth-quarter financial results and increased its quarterly cash dividend from $1 to $1.25 per share on Wednesday.

Monolithic Power Systems posted adjusted earnings of $2.88 per share, beating estimates of $2.85 per share. The company’s quarterly sales came in at $454.01 million versus estimates of $452.09 million, according to data from Benzinga Pro.

Monolithic Power Systems announced the acquisition of Axign B.V., a Netherlands-based fabless semiconductor startup.

Monolithic Power Systems shares gained 2% to close at $645.41 on Wednesday.

These analysts made changes to their price targets on Monolithic Power Systems after the company reported quarterly results.

• Keybanc raised the price target on Monolithic Power Systems from $600 to $830. Keybanc analyst John Vinh maintained an Overweight rating.
• Needham boosted the price target on Monolithic Power Systems from $500 to $800. Needham analyst Quinn Bolton maintained a Buy rating.

 

Check This Out: ConocoPhillips, Disney And 3 Stocks To Watch Heading Into Thursday

Posted In: MPWR