Bank of Nova Scotia Has $15.22 Million Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• The Bank of Nova Scotia has significantly reduced its stake in Monolithic Power Systems by 83.8%, selling 135,565 shares and retaining only 26,235 shares valued at approximately $15.2 million.
• GAMMA Investing LLC and several other institutional investors have increased their holdings in Monolithic Power Systems, with GAMMA raising its position by an astounding 76,432.3%.
• Analysts have generally optimistic ratings for Monolithic Power Systems, with price targets raised by several firms, including TD Cowen and Wells Fargo, pointing towards a consensus target price of $834.45.

Bank of Nova Scotia cut its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 83.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,235 shares of the semiconductor company's stock after selling 135,565 shares during the quarter. Bank of Nova Scotia owned 0.05% of Monolithic Power Systems worth $15,217,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MPWR. Brighton Jones LLC boosted its position in Monolithic Power Systems by 46.0% during the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after purchasing an additional 200 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Monolithic Power Systems during the fourth quarter valued at approximately $454,000. Wells Fargo & Company MN boosted its position in Monolithic Power Systems by 20.2% during the fourth quarter. Wells Fargo & Company MN now owns 69,376 shares of the semiconductor company's stock valued at $41,050,000 after purchasing an additional 11,667 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Monolithic Power Systems in the fourth quarter valued at approximately $293,000. Finally, Aviva PLC raised its stake in Monolithic Power Systems by 11.1% in the fourth quarter. Aviva PLC now owns 2,831 shares of the semiconductor company's stock valued at $1,675,000 after buying an additional 282 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MPWR shares. Wells Fargo & Company upped their price objective on Monolithic Power Systems from $730.00 to $750.00 and gave the company an "equal weight" rating in a research note on Friday. TD Cowen upped their price objective on Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Loop Capital upped their price objective on Monolithic Power Systems from $760.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Oppenheimer restated an "outperform" rating and issued a $800.00 price objective (up previously from $700.00) on shares of Monolithic Power Systems in a research note on Tuesday, July 15th. Finally, Raymond James Financial restated an "outperform" rating and issued a $875.00 price objective (up previously from $720.00) on shares of Monolithic Power Systems in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $838.09.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 100 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the sale, the director owned 676 shares of the company's stock, valued at approximately $471,848. This trade represents a 12.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $750.00, for a total value of $2,250,000.00. Following the completion of the sale, the chief financial officer directly owned 43,939 shares in the company, valued at approximately $32,954,250. This represents a 6.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,199 shares of company stock worth $46,496,020. 3.40% of the stock is owned by company insiders.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock traded up $45.01 during mid-day trading on Monday, reaching $830.63. 1,360,386 shares of the company were exchanged, compared to its average volume of 580,987. The company has a fifty day simple moving average of $718.72 and a 200-day simple moving average of $652.39. Monolithic Power Systems, Inc. has a 12 month low of $438.86 and a 12 month high of $959.64. The firm has a market cap of $39.77 billion, a PE ratio of 21.63, a PEG ratio of 3.12 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 EPS for the quarter, topping 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 analyst estimates of $648.74 million. During the same quarter last year, the company earned $3.17 EPS. The company's revenue was up 31.0% on a year-over-year basis. Sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is currently 16.25%.

About Monolithic Power Systems

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.