Envestnet Asset Management Inc. Sells 6,354 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Envestnet Asset Management Inc. lowered its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,518 shares of the semiconductor company's stock after selling 6,354 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of Monolithic Power Systems worth $97,157,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MPWR. Brighton Jones LLC raised 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 acquiring an additional 200 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Monolithic Power Systems during the 4th quarter worth $42,401,000. AlphaQuest LLC bought a new position in shares of Monolithic Power Systems during the 4th quarter valued at $41,000. Independent Advisor Alliance lifted its stake in shares of Monolithic Power Systems by 131.4% in the 4th quarter. Independent Advisor Alliance now owns 546 shares of the semiconductor company's stock valued at $323,000 after purchasing an additional 310 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in Monolithic Power Systems in the fourth quarter worth $221,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company boosted their target price on Monolithic Power Systems from $665.00 to $695.00 and gave the stock an "equal weight" rating in a report on Monday, June 16th. KeyCorp increased their price target on Monolithic Power Systems from $820.00 to $940.00 and gave the company an "overweight" rating in a report on Tuesday. TD Cowen boosted their price objective on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $720.00 target price (down from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $799.42.

Insider Activity

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 12,000 shares of Monolithic Power Systems stock in a transaction on Monday, May 12th. The stock was sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the completion of the transaction, the executive vice president directly owned 4,015 shares of the company's stock, valued at approximately $2,814,515. This trade represents a 74.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction 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 completion of the sale, the director owned 676 shares in the company, valued at $471,848. This represents a 12.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,200 shares of company stock worth $13,046,800. Corporate insiders own 3.40% of the company's stock.

Monolithic Power Systems Trading Down 0.6%

MPWR stock traded down $4.39 during trading on Friday, reaching $736.06. 383,148 shares of the stock were exchanged, compared to its average volume of 503,845. Monolithic Power Systems, Inc. has a twelve month low of $438.86 and a twelve month high of $959.64. The company has a market capitalization of $35.24 billion, a P/E ratio of 66.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.20. The stock has a 50 day simple moving average of $701.64 and a 200-day simple moving average of $638.14.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.04. The company had revenue of $637.55 million for the quarter, compared to analyst estimates of $633.43 million. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. Monolithic Power Systems's revenue for the quarter was up 39.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.81 EPS. Equities analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, June 30th. Monolithic Power Systems's payout ratio is 16.56%.

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.