iA Global Asset Management Inc. Decreases Stock Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• iA Global Asset Management cut its Monolithic Power Systems position by 62.1% in the second quarter, selling 9,413 shares and retaining 5,733 shares valued at approximately $7.9 million. Institutional investors collectively own 93.46% of MPWR.
• Monolithic Power Systems reported strong quarterly results, with earnings of $6.50 per share and revenue of $980.64 million, beating estimates and representing 47.6% year-over-year revenue growth.
• MPWR shares were trading at $1,362.55, down 4.4%, while analysts maintained a “Moderate Buy” consensus with an average price target of $1,705.82. The company also declared a quarterly dividend of $2.00 per share.

iA Global Asset Management Inc. cut its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 62.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,733 shares of the semiconductor company's stock after selling 9,413 shares during the quarter. iA Global Asset Management Inc.'s holdings in Monolithic Power Systems were worth $7,925,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC lifted its holdings in Monolithic Power Systems by 183.9% during the fourth quarter. Merit Financial Group LLC now owns 2,757 shares of the semiconductor company's stock valued at $2,499,000 after purchasing an additional 1,786 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in shares of Monolithic Power Systems in the fourth quarter valued at approximately $3,983,000. Mirabaud Asset Management Ltd bought a new stake in shares of Monolithic Power Systems in the fourth quarter valued at approximately $4,424,000. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Monolithic Power Systems by 45.9% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,448 shares of the semiconductor company's stock valued at $2,219,000 after buying an additional 770 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Monolithic Power Systems by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,070 shares of the semiconductor company's stock worth $81,636,000 after buying an additional 24,657 shares during the period. Hedge funds and other institutional investors own 93.46% of the company's stock.

Monolithic Power Systems Stock Down 4.4%

NASDAQ:MPWR opened at $1,362.55 on Friday. The stock has a market cap of $66.96 billion, a P/E ratio of 83.54 and a beta of 1.69. The business's 50-day moving average price is $1,396.06 and its two-hundred day moving average price is $1,338.29. Monolithic Power Systems, Inc. has a twelve month low of $800.97 and a twelve month high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping the consensus estimate of $5.87 by $0.63. The company had revenue of $980.64 million during the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.Monolithic Power Systems's revenue was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.21 earnings per share. On average, equities research analysts expect that Monolithic Power Systems, Inc. will post 23.35 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems's payout ratio is currently 49.05%.

Insider Activity at Monolithic Power Systems

In other news, EVP Saria Tseng sold 7,565 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,700.00, for a total transaction of $12,860,500.00. Following the completion of the sale, the executive vice president directly owned 144,218 shares of the company's stock, valued at approximately $245,170,600. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeff Zhou sold 486 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the completion of the transaction, the director owned 3,800 shares of the company's stock, valued at $6,384,000. This trade represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,191 shares of company stock worth $21,807,015 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MPWR. Rosenblatt Securities reissued a "neutral" rating and set a $1,575.00 target price on shares of Monolithic Power Systems in a report on Friday, July 31st. Weiss Ratings cut Monolithic Power Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Wall Street Zen raised Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Wells Fargo & Company upped their price target on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Oppenheimer set a $1,700.00 price target on shares of Monolithic Power Systems in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,705.82.

Monolithic Power Systems Company Profile

Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.

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