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MPWR

Monolithic Power Systems NasdaqGS:MPWR Stock Report

Last Price

US$379.33

Market Cap

US$17.7b

7D

-6.1%

1Y

-21.7%

Updated

28 Sep, 2022

Data

Company Financials +
MPWR fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance6/6
Financial Health6/6
Dividends0/6

MPWR Stock Overview

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.

Rewards

Trading at 24.6% below our estimate of its fair value

Earnings are forecast to grow 17.16% per year

Earnings grew by 68.7% over the past year

Analysts in good agreement that stock price will rise by 51.1%

Risk Analysis

Significant insider selling over the past 3 months


Monolithic Power Systems Competitors

Skyworks Solutions

NasdaqGS:SWKS

US$14.9b

ON Semiconductor

NasdaqGS:ON

US$28.4b

First Solar

NasdaqGS:FSLR

US$14.5b

Qorvo

NasdaqGS:QRVO

US$8.5b

Price History & Performance

Summary of all time highs, changes and price drops for Monolithic Power Systems
Historical stock prices
Current Share PriceUS$379.33
52 Week HighUS$580.00
52 Week LowUS$348.02
Beta1.11
1 Month Change-17.85%
3 Month Change-1.23%
1 Year Change-21.73%
3 Year Change153.01%
5 Year Change252.14%
Change since IPO3,754.98%

Recent News & Updates

Sep 15

Monolithic Power declares $0.75 dividend

Monolithic Power (NASDAQ:MPWR) declares $0.75/share quarterly dividend, in line with previous. Forward yield 0.72% Payable Oct. 14; for shareholders of record Sept. 30; ex-div Sept. 29. See MPWR Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

MPWRUS SemiconductorUS Market
7D-6.1%-3.4%-2.0%
1Y-21.7%-25.1%-20.3%

Return vs Industry: MPWR exceeded the US Semiconductor industry which returned -27.2% over the past year.

Return vs Market: MPWR matched the US Market which returned -22.1% over the past year.

Price Volatility

Is MPWR's price volatile compared to industry and market?
MPWR volatility
MPWR Average Weekly Movement7.1%
Semiconductor Industry Average Movement7.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: MPWR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MPWR's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19972,773Michael Hsinghttps://www.monolithicpower.com

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. It also offers lighting control ICs for backlighting that are used in systems, which provide the light source for LCD panels in notebook computers, monitors, car navigation systems, and televisions, as well as for general illumination products.

Monolithic Power Systems Fundamentals Summary

How do Monolithic Power Systems's earnings and revenue compare to its market cap?
MPWR fundamental statistics
Market CapUS$17.75b
Earnings (TTM)US$335.69m
Revenue (TTM)US$1.50b

52.9x

P/E Ratio

11.8x

P/S Ratio

Is MPWR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MPWR income statement (TTM)
RevenueUS$1.50b
Cost of RevenueUS$628.72m
Gross ProfitUS$870.03m
Other ExpensesUS$534.34m
EarningsUS$335.69m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)7.17
Gross Margin58.05%
Net Profit Margin22.40%
Debt/Equity Ratio0%

How did MPWR perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

37%

Payout Ratio

Does MPWR pay a reliable dividends?

See MPWR dividend history and benchmarks
When do you need to buy MPWR by to receive an upcoming dividend?
Monolithic Power Systems dividend dates
Ex Dividend DateSep 29 2022
Dividend Pay DateOct 14 2022
Days until Ex dividend0 days
Days until Dividend pay date15 days

Does MPWR pay a reliable dividends?

See MPWR dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is MPWR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MPWR?

Other financial metrics that can be useful for relative valuation.

MPWR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.3x
Enterprise Value/EBITDA39x
PEG Ratio3.1x

Price to Earnings Ratio vs Peers

How does MPWR's PE Ratio compare to its peers?

MPWR PE Ratio vs Peers
The above table shows the PE ratio for MPWR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average28.8x
SWKS Skyworks Solutions
11.5x9.7%US$14.9b
ON ON Semiconductor
16.5x4.1%US$28.4b
FSLR First Solar
76.8x53.8%US$14.5b
QRVO Qorvo
10.4x21.9%US$8.5b
MPWR Monolithic Power Systems
52.9x17.2%US$17.7b

Price-To-Earnings vs Peers: MPWR is expensive based on its Price-To-Earnings Ratio (52.9x) compared to the peer average (28.8x).

Price to Earnings Ratio vs Industry

How does MPWR's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: MPWR is expensive based on its Price-To-Earnings Ratio (52.9x) compared to the US Semiconductor industry average (15.4x)

Price to Earnings Ratio vs Fair Ratio

What is MPWR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MPWR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio52.9x
Fair PE Ratio28.8x

Price-To-Earnings vs Fair Ratio: MPWR is expensive based on its Price-To-Earnings Ratio (52.9x) compared to the estimated Fair Price-To-Earnings Ratio (28.8x).

Share Price vs Fair Value

What is the Fair Price of MPWR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MPWR ($379.33) is trading below our estimate of fair value ($502.83)

Significantly Below Fair Value: MPWR is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

Future Growth

How is Monolithic Power Systems forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE

17.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MPWR's forecast earnings growth (17.2% per year) is above the savings rate (1.9%).

Earnings vs Market: MPWR's earnings (17.2% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: MPWR's earnings are forecast to grow, but not significantly.

Revenue vs Market: MPWR's revenue (14.9% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: MPWR's revenue (14.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MPWR's Return on Equity is forecast to be high in 3 years time (28.9%)

Discover growth companies

Past Performance

How has Monolithic Power Systems performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE

31.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MPWR has high quality earnings.

Growing Profit Margin: MPWR's current net profit margins (22.4%) are higher than last year (19.1%).

Past Earnings Growth Analysis

Earnings Trend: MPWR's earnings have grown significantly by 31.3% per year over the past 5 years.

Accelerating Growth: MPWR's earnings growth over the past year (68.7%) exceeds its 5-year average (31.3% per year).

Earnings vs Industry: MPWR earnings growth over the past year (68.7%) exceeded the Semiconductor industry 54.4%.

Return on Equity

High ROE: MPWR's Return on Equity (23.6%) is considered high.

Discover strong past performing companies

Financial Health

How is Monolithic Power Systems's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MPWR's short term assets ($1.3B) exceed its short term liabilities ($254.5M).

Long Term Liabilities: MPWR's short term assets ($1.3B) exceed its long term liabilities ($108.1M).

Debt to Equity History and Analysis

Debt Level: MPWR is debt free.

Reducing Debt: MPWR has not had any debt for past 5 years.

Debt Coverage: MPWR has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MPWR has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Discover healthy companies

Dividend

What is Monolithic Power Systems's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

0.79%

Current Dividend Yield

Dividend Yield vs Market

Monolithic Power Systems Dividend Yield vs Market
How does Monolithic Power Systems dividend yield compare to the market?
SegmentDividend Yield
Company (Monolithic Power Systems)0.8%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Semiconductor)2.0%
Analyst forecast in 3 Years (Monolithic Power Systems)0.9%

Notable Dividend: MPWR's dividend (0.79%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: MPWR's dividend (0.79%) is low compared to the top 25% of dividend payers in the US market (4.69%).

Stability and Growth of Payments

Stable Dividend: MPWR is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: MPWR is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: MPWR is not paying a notable dividend for the US market.

Cash Payout to Shareholders

Cash Flow Coverage: MPWR is not paying a notable dividend for the US market.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

15.2yrs

Average management tenure

CEO

Michael Hsing (62 yo)

25.08yrs

Tenure

US$20,254,831

Compensation

Mr. Michael R. Hsing has been President, Chief Executive Officer and Director at Monolithic Power Systems, Inc since August 1997. He is Founder of Monolithic Power Systems, Inc. He held senior technical po...

CEO Compensation Analysis

Michael Hsing's Compensation vs Monolithic Power Systems Earnings
How has Michael Hsing's remuneration changed compared to Monolithic Power Systems's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$336m

Mar 31 2022n/an/a

US$276m

Dec 31 2021US$20mUS$712k

US$242m

Sep 30 2021n/an/a

US$212m

Jun 30 2021n/an/a

US$199m

Mar 31 2021n/an/a

US$174m

Dec 31 2020US$15mUS$650k

US$164m

Sep 30 2020n/an/a

US$154m

Jun 30 2020n/an/a

US$128m

Mar 31 2020n/an/a

US$118m

Dec 31 2019US$9mUS$650k

US$109m

Sep 30 2019n/an/a

US$104m

Jun 30 2019n/an/a

US$106m

Mar 31 2019n/an/a

US$110m

Dec 31 2018US$12mUS$644k

US$105m

Sep 30 2018n/an/a

US$90m

Jun 30 2018n/an/a

US$82m

Mar 31 2018n/an/a

US$73m

Dec 31 2017US$8mUS$600k

US$65m

Sep 30 2017n/an/a

US$70m

Jun 30 2017n/an/a

US$60m

Mar 31 2017n/an/a

US$57m

Dec 31 2016US$7mUS$600k

US$53m

Sep 30 2016n/an/a

US$46m

Jun 30 2016n/an/a

US$43m

Mar 31 2016n/an/a

US$40m

Dec 31 2015US$9mUS$600k

US$35m

Compensation vs Market: Michael's total compensation ($USD20.25M) is above average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Michael's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: MPWR's management team is seasoned and experienced (15.2 years average tenure).

Board Members

Experienced Board: MPWR's board of directors are seasoned and experienced ( 16 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: MPWR insiders have only sold shares in the past 3 months.

Recent Insider Transactions

NasdaqGS:MPWR Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
22 Sep 22SellUS$811,151James MoyerIndividual2,065US$400.10
12 Aug 22SellUS$858,876Deming XiaoIndividual1,633US$525.95
12 Aug 22SellUS$858,876Saria TsengIndividual1,633US$525.95
12 Aug 22SellUS$858,876Maurice SciammasIndividual1,633US$525.95
12 Aug 22SellUS$3,316,641Michael HsingIndividual6,306US$525.95
12 Aug 22SellUS$720,026Theodore BlegenIndividual1,369US$525.95
04 Aug 22SellUS$2,745,490Maurice SciammasIndividual5,184US$532.06
04 Aug 22SellUS$514,032Saria TsengIndividual984US$522.39
04 Aug 22SellUS$1,984,037Michael HsingIndividual3,798US$522.39
04 Aug 22SellUS$442,978Theodore BlegenIndividual848US$522.38
04 Aug 22SellUS$514,032Deming XiaoIndividual984US$522.39
01 Jul 22SellUS$4,156,247Michael HsingIndividual11,495US$361.57
01 Jul 22SellUS$343,501Theodore BlegenIndividual950US$361.58
01 Jul 22SellUS$1,632,534Maurice SciammasIndividual4,515US$361.58
01 Jul 22SellUS$1,632,534Saria TsengIndividual4,515US$361.58
01 Jul 22SellUS$1,632,534Deming XiaoIndividual4,515US$361.58
27 May 22SellUS$683,215Deming XiaoIndividual1,495US$457.00
24 May 22SellUS$1,686,707Deming XiaoIndividual4,298US$392.44
12 May 22SellUS$651,620Maurice SciammasIndividual1,679US$388.10
12 May 22SellUS$651,620Saria TsengIndividual1,679US$388.10
12 May 22SellUS$651,620Deming XiaoIndividual1,679US$388.10
12 May 22SellUS$2,515,276Michael HsingIndividual6,481US$388.10
12 May 22SellUS$541,400Theodore BlegenIndividual1,395US$388.10
04 May 22SellUS$446,812Saria TsengIndividual986US$453.16
04 May 22SellUS$1,725,155Michael HsingIndividual3,807US$453.15
04 May 22SellUS$385,182Theodore BlegenIndividual850US$453.16
04 May 22SellUS$446,812Deming XiaoIndividual986US$453.16
04 May 22SellUS$446,812Maurice SciammasIndividual986US$453.16
01 Apr 22SellUS$434,515Theodore BlegenIndividual930US$467.22
01 Apr 22SellUS$5,256,338Michael HsingIndividual11,250US$467.23
01 Apr 22SellUS$2,065,157Deming XiaoIndividual4,420US$467.23
01 Apr 22SellUS$2,065,157Saria TsengIndividual4,420US$467.23
01 Apr 22SellUS$2,065,157Maurice SciammasIndividual4,420US$467.23
14 Feb 22SellUS$714,425Maurice SciammasIndividual1,663US$429.60
14 Feb 22SellUS$714,425Saria TsengIndividual1,663US$429.60
14 Feb 22SellUS$714,425Deming XiaoIndividual1,663US$429.60
14 Feb 22SellUS$2,758,462Michael HsingIndividual6,421US$429.60
14 Feb 22SellUS$595,855Theodore BlegenIndividual1,387US$429.60
08 Feb 22SellUS$2,977,889Theodore BlegenIndividual7,453US$401.12
08 Feb 22SellUS$14,907,643Michael HsingIndividual37,301US$401.12
08 Feb 22SellUS$3,933,640Maurice SciammasIndividual9,844US$401.12
08 Feb 22SellUS$3,633,781Deming XiaoIndividual9,093US$401.12
08 Feb 22SellUS$3,633,781Saria TsengIndividual9,093US$401.12
03 Jan 22SellUS$444,237Theodore BlegenIndividual905US$490.87
03 Jan 22SellUS$2,113,195Deming XiaoIndividual4,305US$490.87
03 Jan 22SellUS$2,113,195Maurice SciammasIndividual4,305US$490.87
03 Jan 22SellUS$2,113,195Saria TsengIndividual4,305US$490.87
03 Jan 22SellUS$5,379,935Michael HsingIndividual10,960US$490.87
30 Nov 21SellUS$2,444,960Deming XiaoIndividual4,366US$560.00
22 Nov 21SellUS$247,660Deming XiaoIndividual427US$580.00
12 Nov 21SellUS$899,304Deming XiaoIndividual1,625US$553.42
12 Nov 21SellUS$3,471,591Michael HsingIndividual6,273US$553.42
12 Nov 21SellUS$754,862Theodore BlegenIndividual1,364US$553.42
12 Nov 21SellUS$899,304Maurice SciammasIndividual1,625US$553.42
12 Nov 21SellUS$1,110,620James MoyerIndividual2,000US$555.31
12 Nov 21SellUS$899,304Saria TsengIndividual1,625US$553.42
08 Nov 21SellUS$1,108,602Deming XiaoIndividual2,022US$548.27
08 Nov 21SellUS$800,474Theodore BlegenIndividual1,460US$548.27
08 Nov 21SellUS$1,108,602Maurice SciammasIndividual2,022US$548.27
08 Nov 21SellUS$4,283,634Michael HsingIndividual7,813US$548.27
01 Oct 21SellUS$2,061,773Maurice SciammasIndividual4,330US$476.16
01 Oct 21SellUS$433,306Theodore BlegenIndividual910US$476.16
01 Oct 21SellUS$5,247,283Michael HsingIndividual11,020US$476.16
01 Oct 21SellUS$2,061,773Saria TsengIndividual4,330US$476.16

Ownership Breakdown

What is the ownership structure of MPWR?
Owner TypeNumber of SharesOwnership Percentage
State or Government19,1930.04%
Individual Insiders2,534,0995.4%
Institutions44,268,36994.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 62.5% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.32%
BlackRock, Inc.
5,764,626$2.2b-7.76%0.05%
10.59%
The Vanguard Group, Inc.
4,953,493$1.9b1.65%0.04%
3.73%
State Street Global Advisors, Inc.
1,747,197$662.8m-3.81%0.04%
3.48%
Franklin Resources, Inc.
1,628,593$617.8m4.9%0.26%
3.13%
T. Rowe Price Group, Inc.
1,466,393$556.2m-2.57%0.06%
2.72%
Massachusetts Financial Services Company
1,273,178$483.0m12.68%0.12%
2.48%
Michael Hsing
1,162,689$441.0m-1.82%no data
2%
Brown Advisory Incorporated
936,341$355.2m-2.3%0.61%
1.91%
Geode Capital Management, LLC
892,814$338.7m0.96%0.04%
1.83%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
853,952$323.9m0.09%0.11%
1.74%
Invesco Ltd.
812,129$308.1m-7.98%0.1%
1.68%
Macquarie Investment Management Business Trust
785,000$297.8m-6.59%0.32%
1.65%
Artisan Partners Limited Partnership
772,908$293.2m-2.04%0.29%
1.59%
FMR LLC
743,853$282.2m132.89%0.03%
1.56%
Whale Rock Capital Management LLC
729,061$276.6m-4.01%8.48%
1.16%
Managed Account Advisors LLC
541,433$205.4m0.66%0.06%
1.13%
Invesco Capital Management LLC
528,678$200.5m-2.37%0.15%
1.1%
AllianceBernstein L.P.
515,768$195.6m-14.39%0.08%
1.1%
Neuberger Berman Investment Advisers LLC
514,455$195.1m-16.68%0.19%
1%
ClearBridge Investments, LLC
468,235$177.6m0.06%0.16%
1%
American Century Investment Management Inc
466,156$176.8m18.66%0.13%
0.97%
Northern Trust Global Investments
452,902$171.8m1.97%0.03%
0.9%
Impax Asset Management Group plc
421,909$160.0m-2.74%0.52%
0.9%
Allspring Global Investments, LLC
419,609$159.2m-25.7%0.24%
0.84%
EARNEST Partners, LLC
392,047$148.7m4.17%0.96%

Company Information

Monolithic Power Systems, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Monolithic Power Systems, Inc.
  • Ticker: MPWR
  • Exchange: NasdaqGS
  • Founded: 1997
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: US$17.748b
  • Shares outstanding: 46.79m
  • Website: https://www.monolithicpower.com

Number of Employees

Location

  • Monolithic Power Systems, Inc.
  • 5808 Lake Washington Boulevard NE
  • Kirkland
  • Washington
  • 98033
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MPWRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 2004
NQGDB (Deutsche Boerse AG)YesCommon StockDEEURNov 2004
MPWR *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNNov 2004
M2PR34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 60 REPR 1 COMBRBRLJan 2022

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.