Allstate Corp Increases Stake in Monolithic Power Systems, Inc. $MPWR

Key Points

• Allstate Corp more than doubled its stake in Monolithic Power Systems during the fourth quarter, increasing its holdings by 106% to 3,556 shares valued at about $3.22 million.
• The article highlights that institutional ownership remains very high, with hedge funds and other institutions holding 93.46% of the stock, while several major firms such as Vanguard, State Street, and JPMorgan also added to their positions.
• Monolithic Power Systems reported strong quarterly results, beating EPS and revenue estimates, while analysts remain constructive overall with a Moderate Buy consensus and an average price target of $1,599.17.

Allstate Corp boosted its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 106.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,556 shares of the semiconductor company's stock after purchasing an additional 1,830 shares during the quarter. Allstate Corp's holdings in Monolithic Power Systems were worth $3,223,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Monolithic Power Systems by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,074,033 shares of the semiconductor company's stock valued at $5,591,998,000 after purchasing an additional 134,087 shares during the last quarter. State Street Corp grew its position in Monolithic Power Systems by 0.7% during the 3rd quarter. State Street Corp now owns 2,134,704 shares of the semiconductor company's stock valued at $1,968,578,000 after purchasing an additional 14,670 shares during the last quarter. JPMorgan Chase & Co. grew its position in Monolithic Power Systems by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 863,228 shares of the semiconductor company's stock valued at $794,723,000 after purchasing an additional 6,503 shares during the last quarter. Bank of America Corp DE grew its position in Monolithic Power Systems by 18.0% during the 2nd quarter. Bank of America Corp DE now owns 692,747 shares of the semiconductor company's stock valued at $506,661,000 after purchasing an additional 105,721 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Monolithic Power Systems by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 570,719 shares of the semiconductor company's stock valued at $517,277,000 after purchasing an additional 14,132 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Saria Tseng sold 25,674 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $1,010.50, for a total transaction of $25,943,577.00. Following the transaction, the executive vice president owned 174,982 shares of the company's stock, valued at $176,819,311. The trade was a 12.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deming Xiao sold 30,000 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $1,654.55, for a total transaction of $49,636,500.00. Following the transaction, the executive vice president directly owned 205,959 shares in the company, valued at $340,769,463.45. This represents a 12.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 105,478 shares of company stock valued at $147,969,440. 3.40% of the stock is currently owned by company insiders.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $1,620.17 on Thursday. Monolithic Power Systems, Inc. has a one year low of $643.36 and a one year high of $1,714.09. The stock's fifty day moving average is $1,390.37 and its 200 day moving average is $1,154.17. The stock has a market cap of $79.60 billion, a P/E ratio of 116.81, a P/E/G ratio of 2.97 and a beta of 1.74.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.90 by $0.20. Monolithic Power Systems had a return on equity of 19.58% and a net margin of 22.84%.The business had revenue of $804.19 million during the quarter, compared to analyst estimates of $781.93 million. During the same quarter in the previous year, the company posted $4.04 earnings per share. Monolithic Power Systems's revenue for the quarter was up 26.1% on a year-over-year basis. Analysts predict that Monolithic Power Systems, Inc. will post 20.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MPWR. Oppenheimer set a $1,700.00 price target on shares of Monolithic Power Systems in a report on Friday, May 1st. TD Cowen raised their price target on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a "buy" rating in a report on Friday, May 1st. Needham & Company LLC raised their price target on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a "buy" rating in a report on Friday, May 1st. Raymond James Financial reaffirmed an "outperform" rating and set a $1,800.00 price target on shares of Monolithic Power Systems in a report on Friday, May 1st. Finally, Rosenblatt Securities raised their price target on shares of Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Monolithic Power Systems presently has an average rating of "Moderate Buy" and a consensus price target of $1,599.17.

Monolithic Power Systems Company Profile

Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.

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