Congress Asset Management Co. Has $71.14 Million Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Congress Asset Management Co. reduced its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,660 shares of the semiconductor company's stock after selling 8,042 shares during the quarter. Congress Asset Management Co. owned 0.26% of Monolithic Power Systems worth $71,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd acquired a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $3,182,000. Boston Family Office LLC grew its holdings in shares of Monolithic Power Systems by 1,031.6% during the fourth quarter. Boston Family Office LLC now owns 2,614 shares of the semiconductor company's stock valued at $1,547,000 after buying an additional 2,383 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $454,000. Plato Investment Management Ltd grew its holdings in shares of Monolithic Power Systems by 257.4% during the fourth quarter. Plato Investment Management Ltd now owns 3,785 shares of the semiconductor company's stock valued at $2,248,000 after buying an additional 2,726 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $11,834,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $687.08 on Friday. The firm has a market cap of $32.90 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.60 and a beta of 1.18. Monolithic Power Systems, Inc. has a 52 week low of $438.86 and a 52 week high of $959.64. The firm's 50-day simple moving average is $609.10 and its two-hundred day simple moving average is $615.23.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, topping the consensus estimate of $4.00 by $0.04. The business had revenue of $637.55 million for the quarter, compared to analyst estimates of $633.43 million. Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. The company's revenue for the quarter was up 39.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.81 earnings per share. Analysts forecast that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price target on shares of Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. KeyCorp dropped their price target on shares of Monolithic Power Systems from $850.00 to $820.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Loop Capital raised their price target on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $644.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Monolithic Power Systems presently has a consensus rating of "Moderate Buy" and an average price target of $786.92.

Insider Activity

In other news, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total value of $69,800.00. Following the sale, the director now owns 676 shares of the company's stock, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maurice Sciammas sold 12,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the completion of the sale, the executive vice president now directly owns 4,015 shares in the company, valued at approximately $2,814,515. This trade represents a 74.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock valued at $8,546,800 over the last quarter. Company insiders own 3.40% of the company's stock.

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.

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