Harvest Fund Management Co. Ltd Sells 5,258 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Harvest Fund Management Co. Ltd reduced its shares in Monolithic Power Systems by 36.2%, decreasing its holdings to 9,277 shares worth approximately $5,378,000.
• Monolithic Power Systems exceeded analysts' expectations by reporting $4.04 earnings per share and 39.2% revenue growth compared to the same quarter last year.
• Several hedge funds increased their positions in Monolithic Power Systems, with 93.46% of the stock owned by institutional investors.

Harvest Fund Management Co. Ltd reduced its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 36.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,277 shares of the semiconductor company's stock after selling 5,258 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Monolithic Power Systems were worth $5,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Monolithic Power Systems by 13.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,719 shares of the semiconductor company's stock worth $2,157,000 after acquiring an additional 438 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of Monolithic Power Systems in the first quarter worth approximately $204,000. Praxis Investment Management Inc. acquired a new position in shares of Monolithic Power Systems in the first quarter worth approximately $980,000. Jackson Wealth Management LLC lifted its stake in Monolithic Power Systems by 29.5% in the first quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company's stock valued at $1,680,000 after buying an additional 659 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in Monolithic Power Systems by 52.6% in the first quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company's stock valued at $379,000 after buying an additional 225 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on MPWR shares. Stifel Nicolaus dropped their price target on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company boosted their price target on Monolithic Power Systems from $695.00 to $730.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Oppenheimer reissued an "outperform" rating and issued a $800.00 price target (up from $700.00) on shares of Monolithic Power Systems in a research note on Tuesday, July 15th. TD Cowen boosted their price target 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. Finally, KeyCorp boosted their price target on Monolithic Power Systems from $820.00 to $940.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Monolithic Power Systems has a consensus rating of "Moderate Buy" and a consensus price target of $805.67.

Monolithic Power Systems Stock Performance

Shares of NASDAQ MPWR traded up $6.17 during midday trading on Wednesday, hitting $730.54. 629,447 shares of the stock traded hands, compared to its average volume of 454,998. The company has a market cap of $34.98 billion, a PE ratio of 19.39, a P/E/G ratio of 2.87 and a beta of 1.20. Monolithic Power Systems, Inc. has a one year low of $438.86 and a one year high of $959.64. The business has a 50 day moving average price of $711.06 and a two-hundred day moving average price of $647.47.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The business had revenue of $637.55 million during the quarter, compared to the consensus estimate of $633.43 million. During the same quarter in the prior year, the company posted $2.81 earnings per share. Monolithic Power Systems's revenue was up 39.2% compared to the same quarter last year. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.56 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.24 annualized dividend and a yield of 0.85%. Monolithic Power Systems's dividend payout ratio (DPR) is currently 16.56%.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the chief financial officer owned 46,939 shares in the company, valued at approximately $35,204,250. This represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maurice Sciammas sold 12,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $701.00, for a total value of $8,412,000.00. Following the sale, the executive vice president owned 4,015 shares of the company's stock, valued at $2,814,515. This trade represents a 74.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,200 shares of company stock worth $13,046,800. 3.40% of the stock is owned by corporate 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.