Azimuth Capital Investment Management LLC Decreases Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• Azimuth Capital Investment Management reduced its Monolithic Power Systems stake by 19.3% in the second quarter, selling 6,949 shares and retaining 29,124 shares valued at approximately $40.26 million. Institutional investors collectively own 93.46% of the company.
• Monolithic Power Systems reported strong quarterly results, with revenue up 47.6% year over year to $980.64 million and EPS of $6.50, beating analyst expectations of $5.87. The company also pays a quarterly dividend equivalent to a 0.7% annual yield.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,731.42, although insiders have sold 160 shares worth about $215,945 over the past 90 days.

Azimuth Capital Investment Management LLC cut its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,124 shares of the semiconductor company's stock after selling 6,949 shares during the quarter. Monolithic Power Systems accounts for about 1.4% of Azimuth Capital Investment Management LLC's holdings, making the stock its 8th biggest holding. Azimuth Capital Investment Management LLC owned approximately 0.06% of Monolithic Power Systems worth $40,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transamerica Financial Advisors LLC bought a new position in Monolithic Power Systems in the second quarter valued at $35,000. IFP Advisors Inc grew its stake in shares of Monolithic Power Systems by 171.4% in the third quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 24 shares during the last quarter. Covestor Ltd increased its stake in shares of Monolithic Power Systems by 29.0% during the fourth quarter. Covestor Ltd now owns 40 shares of the semiconductor company's stock valued at $36,000 after buying an additional 9 shares during the period. Danske Bank A S bought a new position in Monolithic Power Systems in the 2nd quarter worth $36,000. Finally, Greenline Wealth Management LLC purchased a new stake in Monolithic Power Systems in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the transaction, the executive vice president owned 1,119 shares of the company's stock, valued at $1,503,868.86. The trade was a 2.61% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 515 shares of the company's stock, valued at approximately $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160 shares of company stock worth $215,945. Insiders own 3.60% of the company's stock.

Monolithic Power Systems Stock Up 0.8%

NASDAQ MPWR opened at $1,223.86 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $830.00 and a 52 week high of $1,714.09. The firm has a market capitalization of $60.14 billion, a P/E ratio of 75.04 and a beta of 1.66. The company has a 50-day moving average price of $1,328.13 and a 200-day moving average price of $1,352.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping the consensus estimate of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The business had revenue of $980.64 million for the quarter, compared to analysts' expectations of $903.30 million. During the same quarter last year, the company posted $4.21 EPS. The company's revenue was up 47.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 annualized dividend and a dividend yield of 0.7%. Monolithic Power Systems's dividend payout ratio (DPR) is 49.05%.

Wall Street Analyst Weigh In

MPWR has been the subject of a number of research reports. Arete Research set a $2,013.00 price objective on Monolithic Power Systems and gave the stock a "buy" rating in a report on Thursday, August 20th. Needham & Company LLC boosted their target price on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a "buy" rating in a report on Friday, July 31st. Zacks Research upgraded shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 18th. Rosenblatt Securities reissued a "neutral" rating and issued a $1,575.00 price target on shares of Monolithic Power Systems in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,731.42.

About Monolithic Power Systems

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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