32,660 Monolithic Power Systems, Inc. $MPWR Shares Acquired by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama increased its Monolithic Power Systems holdings by 316.5%, buying 32,660 shares in the third quarter to reach 42,980 shares valued at about $57.9 million.
• Monolithic Power Systems beat quarterly estimates, reporting EPS of $8.19 versus $7.79 expected and revenue of $1.20 billion versus $1.16 billion; revenue rose 63.1% year over year.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and an average target price of $1,783.77.

Retirement Systems of Alabama grew its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 316.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,980 shares of the semiconductor company's stock after purchasing an additional 32,660 shares during the quarter. Retirement Systems of Alabama owned about 0.09% of Monolithic Power Systems worth $57,904,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Royal Fund Management LLC lifted its stake in shares of Monolithic Power Systems by 2.7% during the 1st quarter. Royal Fund Management LLC now owns 264 shares of the semiconductor company's stock valued at $289,000 after buying an additional 7 shares in the last quarter. Eastern Bank boosted its holdings in Monolithic Power Systems by 8.0% in the 3rd quarter. Eastern Bank now owns 108 shares of the semiconductor company's stock worth $146,000 after buying an additional 8 shares during the period. Avidian Wealth Enterprises LLC grew its stake in Monolithic Power Systems by 4.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 185 shares of the semiconductor company's stock valued at $250,000 after buying an additional 8 shares in the last quarter. Worthington Financial Partners LLC grew its stake in Monolithic Power Systems by 0.6% in the 3rd quarter. Worthington Financial Partners LLC now owns 1,622 shares of the semiconductor company's stock valued at $2,185,000 after buying an additional 9 shares in the last quarter. Finally, First Bank & Trust grew its stake in Monolithic Power Systems by 3.7% in the 3rd quarter. First Bank & Trust now owns 254 shares of the semiconductor company's stock valued at $342,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Transactions at Monolithic Power Systems

In related news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the sale, the director owned 515 shares of the company's stock, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MPWR. Arete Research started coverage on Monolithic Power Systems in a research report on Thursday, August 20th. They set a "buy" rating and a $2,013.00 target price on the stock. Zacks Research upgraded Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 2nd. Weiss Ratings upgraded Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. KeyCorp increased their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, TD Cowen restated a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $1,783.77.

Monolithic Power Systems Trading Up 16.6%

Monolithic Power Systems stock opened at $1,388.05 on Tuesday. Monolithic Power Systems, Inc. has a 1-year low of $833.18 and a 1-year high of $1,714.09. The firm has a market capitalization of $67.70 billion, a PE ratio of 76.65 and a beta of 1.71. The firm's 50 day simple moving average is $1,270.03 and its 200 day simple moving average is $1,317.43.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $8.19 EPS for the quarter, beating the consensus estimate of $7.79 by $0.40. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The business's quarterly revenue was up 63.1% compared to the same quarter last year. During the same period last year, the firm earned $4.73 EPS. Research analysts forecast that Monolithic Power Systems, Inc. will post 23.72 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, September 30th. Monolithic Power Systems's dividend payout ratio (DPR) is 44.17%.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company's products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.

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