Baker Avenue Asset Management LP Invests $279,000 in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Baker Avenue Asset Management LP acquired a new stake in Monolithic Power Systems worth approximately $279,000, purchasing 481 shares in the first quarter, according to their 13F filing.
• Multiple hedge funds have increased or initiated their positions in Monolithic Power Systems, with overall institutional ownership standing at 93.46% of the company’s stock.
• Analyst firms have raised their target prices for Monolithic Power Systems, with a consensus target now set at $834.45 and a rating of "Moderate Buy".

Baker Avenue Asset Management LP acquired a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 481 shares of the semiconductor company's stock, valued at approximately $279,000.

Several other large investors also recently modified their holdings of MPWR. GAMMA Investing LLC lifted its position in shares of Monolithic Power Systems by 76,432.3% in the first quarter. GAMMA Investing LLC now owns 778,333 shares of the semiconductor company's stock valued at $451,418,000 after acquiring an additional 777,316 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Monolithic Power Systems by 16.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,528,301 shares of the semiconductor company's stock worth $904,297,000 after buying an additional 214,395 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in Monolithic Power Systems by 18,567.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 200,487 shares of the semiconductor company's stock valued at $118,628,000 after purchasing an additional 199,413 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Monolithic Power Systems during the fourth quarter valued at approximately $113,547,000. Finally, Ensign Peak Advisors Inc raised its position in Monolithic Power Systems by 121.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 337,078 shares of the semiconductor company's stock valued at $199,449,000 after purchasing an additional 185,002 shares during the period. Institutional investors own 93.46% of the company's stock.

Analyst Ratings Changes

MPWR has been the topic of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $875.00 price target (up from $720.00) on shares of Monolithic Power Systems in a report on Friday. Loop Capital increased their price objective on Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. KeyCorp increased their target price on Monolithic Power Systems from $940.00 to $950.00 and gave the company an "overweight" rating in a research report on Friday. Wells Fargo & Company increased their target price on Monolithic Power Systems from $730.00 to $750.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on Monolithic Power Systems from $880.00 to $930.00 and gave the stock a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Monolithic Power Systems currently has a consensus rating of "Moderate Buy" and an average price target of $838.09.

Monolithic Power Systems Trading Down 3.8%

Shares of NASDAQ MPWR traded down $31.48 during trading on Tuesday, reaching $799.15. 110,198 shares of the company traded hands, compared to its average volume of 819,605. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $959.64. The stock has a market cap of $38.26 billion, a P/E ratio of 20.81, a PEG ratio of 3.12 and a beta of 1.18. The firm's fifty day simple moving average is $718.72 and its 200 day simple moving average is $652.39.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The semiconductor company reported $4.21 EPS for the quarter, beating analysts' consensus estimates of $4.12 by $0.09. Monolithic Power Systems had a return on equity of 19.14% and a net margin of 73.17%. The firm had revenue of $664.57 million for the quarter, compared to analysts' expectations of $648.74 million. During the same period last year, the firm earned $3.17 EPS. The company's quarterly revenue was up 31.0% on a year-over-year basis. As a group, research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's payout ratio is currently 16.25%.

Insider Buying and Selling

In other news, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director owned 676 shares of the company's stock, valued at approximately $471,848. The trade was a 12.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 6,000 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $750.00, for a total transaction of $4,500,000.00. Following the sale, the chief financial officer directly owned 46,939 shares in the company, valued at approximately $35,204,250. The trade was a 11.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,199 shares of company stock valued at $46,496,020. 3.40% of the stock is currently owned by company insiders.

Monolithic Power Systems Profile

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.