Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,366 shares of the semiconductor company's stock, valued at approximately $792,000.
Several other large investors also recently modified their holdings of MPWR. Vanguard Group Inc. lifted its stake in shares of Monolithic Power Systems by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,824,274 shares of the semiconductor company's stock worth $3,446,223,000 after acquiring an additional 74,046 shares during the period. Price T Rowe Associates Inc. MD grew its position in Monolithic Power Systems by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,528,301 shares of the semiconductor company's stock worth $904,297,000 after purchasing an additional 214,395 shares during the last quarter. Geode Capital Management LLC increased its holdings in Monolithic Power Systems by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,365,459 shares of the semiconductor company's stock valued at $807,158,000 after buying an additional 31,295 shares during the period. Invesco Ltd. grew its position in Monolithic Power Systems by 7.5% in the fourth quarter. Invesco Ltd. now owns 1,162,482 shares of the semiconductor company's stock valued at $687,841,000 after acquiring an additional 81,412 shares during the period. Finally, Brown Advisory Inc. grew its position in Monolithic Power Systems by 0.5% during the 4th quarter. Brown Advisory Inc. now owns 986,005 shares of the semiconductor company's stock worth $583,420,000 after acquiring an additional 5,274 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on MPWR. Wells Fargo & Company boosted their target price on Monolithic Power Systems from $665.00 to $695.00 and gave the company an "equal weight" rating in a research note on Monday, June 16th. TD Cowen boosted their price objective on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Rosenblatt Securities reiterated a "neutral" rating and issued a $644.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 2nd. KeyCorp dropped their target price on Monolithic Power Systems from $850.00 to $820.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $789.42.
Read Our Latest Research Report on Monolithic Power Systems
Monolithic Power Systems Trading Up 3.5%
MPWR stock traded up $23.96 during midday trading on Tuesday, hitting $716.58. The company had a trading volume of 706,269 shares, compared to its average volume of 800,946. The stock has a market cap of $34.31 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.72 and a beta of 1.19. Monolithic Power Systems, Inc. has a 52 week low of $438.86 and a 52 week high of $959.64. The stock's 50 day moving average price is $650.43 and its 200 day moving average price is $625.50.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The business had revenue of $637.55 million during the quarter, compared to analysts' expectations of $633.43 million. During the same period in the previous year, the company earned $2.81 earnings per share. The business's revenue for the quarter was up 39.2% compared to the same quarter last year. Analysts predict that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.
Monolithic Power Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Monolithic Power Systems's dividend payout ratio is presently 16.56%.
Insider Transactions at Monolithic Power Systems
In other Monolithic Power Systems news, EVP Maurice Sciammas sold 12,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total value of $8,412,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,015 shares in the company, valued at $2,814,515. This represents a 74.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kuo Wei Herbert Chang sold 100 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $650.00, for a total value of $65,000.00. Following the sale, the director now directly owns 776 shares in the company, valued at approximately $504,400. This represents a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,200 shares of company stock valued at $8,546,800 over the last quarter. 3.40% of the stock is currently owned by company insiders.
About Monolithic Power Systems
(
Free Report)
Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial 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 cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.
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