340,702 Monolithic Power Systems, Inc. $MPWR Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Monolithic Power Systems stake by 814% in the third quarter, buying 340,702 shares and ending the period with 382,556 shares valued at about $515.4 million.
• The company reported quarterly results above expectations: EPS was $8.19 versus the $7.79 estimate, while revenue of $1.20 billion rose 63.1% year over year. Analysts’ consensus rating was “Buy,” with an average price target of $1,783.77.
• MPWR shares opened at $1,390.54 and were reported down 3.9%; the company also pays a quarterly dividend of $2 per share, equivalent to an annualized yield of 0.6%.

Aberdeen Group plc boosted its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 814.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,556 shares of the semiconductor company's stock after acquiring an additional 340,702 shares during the quarter. Aberdeen Group plc owned 0.78% of Monolithic Power Systems worth $515,387,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Monolithic Power Systems by 1,418.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,038 shares of the semiconductor company's stock valued at $5,440,000 after purchasing an additional 3,772 shares during the period. Generate Investment Management Ltd lifted its stake in shares of Monolithic Power Systems by 45.8% in the 3rd quarter. Generate Investment Management Ltd now owns 5,719 shares of the semiconductor company's stock worth $7,705,000 after purchasing an additional 1,797 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Monolithic Power Systems by 10.3% in the 2nd quarter. Baird Financial Group Inc. now owns 81,895 shares of the semiconductor company's stock worth $113,210,000 after purchasing an additional 7,624 shares during the period. Wedmont Private Capital boosted its holdings in shares of Monolithic Power Systems by 68.0% in the third quarter. Wedmont Private Capital now owns 2,006 shares of the semiconductor company's stock worth $2,748,000 after buying an additional 812 shares during the last quarter. Finally, Westwind Capital purchased a new position in shares of Monolithic Power Systems in the third quarter worth approximately $1,784,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kuo Wei Chang sold 50 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the completion of the transaction, the director directly owned 515 shares of the company's stock, valued at approximately $660,008.55. The trade was a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Frank Anthony Balow III sold 20 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $1,434.31, for a total transaction of $28,686.20. Following the sale, the chief financial officer directly owned 2,921 shares of the company's stock, valued at approximately $4,189,619.51. The trade was a 0.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Raymond James Financial restated an "outperform" rating on shares of Monolithic Power Systems in a research note on Wednesday, August 12th. TD Cowen reiterated a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, October 30th. Arete Research initiated coverage on shares of Monolithic Power Systems in a research report on Thursday, August 20th. They set a "buy" rating and a $2,013.00 price objective on the stock. Oppenheimer decreased their price objective on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an "outperform" rating on the stock in a research report on Friday, October 23rd. Finally, Truist Financial upped their price objective on Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $1,783.77.

Monolithic Power Systems Stock Down 3.9%

MPWR opened at $1,390.54 on Friday. The business has a fifty day moving average of $1,284.98 and a 200 day moving average of $1,324.28. The stock has a market cap of $67.82 billion, a P/E ratio of 76.14 and a beta of 1.71. Monolithic Power Systems, Inc. has a 52-week low of $833.18 and a 52-week high of $1,714.09.

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

Monolithic Power Systems Dividend Announcement

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

Monolithic Power Systems 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. MPS sells to customers around the world through direct sales and distribution channels.

Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.