358 Shares in Monolithic Power Systems, Inc. (NASDAQ:MPWR) Purchased by Journey Strategic Wealth LLC

Key Points

• Journey Strategic Wealth LLC has acquired a new stake in Monolithic Power Systems, Inc. valued at approximately $208,000, with the firm acquiring 358 shares in the first quarter of 2023.
• Other institutional investors made significant adjustments to their holdings, with several firms increasing their positions, leading to 93.46% of the company's stock being owned by institutional investors and hedge funds.
• Monolithic Power Systems reported $4.04 EPS for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.56 per share, reflecting a dividend yield of 0.87%.

Journey Strategic Wealth LLC acquired a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 358 shares of the semiconductor company's stock, valued at approximately $208,000.

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

Monolithic Power Systems Trading Up 0.8%

NASDAQ:MPWR traded up $5.64 on Wednesday, hitting $730.01. 100,297 shares of the company's stock traded hands, compared to its average volume of 808,616. Monolithic Power Systems, Inc. has a 1 year low of $438.86 and a 1 year high of $959.64. The firm has a 50-day moving average price of $711.06 and a 200-day moving average price of $647.47. The company has a market cap of $34.95 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.93 and a beta of 1.20.

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, beating 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 analyst estimates of $633.43 million. During the same period in the previous year, the company earned $2.81 EPS. The firm's revenue was up 39.2% on a year-over-year basis. On average, research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.56 dividend. 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MPWR shares. KeyCorp increased their price objective on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Needham & Company LLC restated a "buy" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. TD Cowen increased their price objective on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and set a $720.00 price objective (down from $925.00) on shares of Monolithic Power Systems in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price target on shares of Monolithic Power Systems from $695.00 to $730.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $805.67.

Insiders Place Their Bets

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 stock was sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director directly owned 676 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CFO Theodore Blegen sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $750.00, for a total value of $4,500,000.00. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $13,046,800 in the last three months. 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.