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.
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