Mackenzie Financial Corp increased its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 36.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,092 shares of the semiconductor company's stock after buying an additional 2,150 shares during the period. Mackenzie Financial Corp's holdings in Monolithic Power Systems were worth $4,693,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Monolithic Power Systems during the fourth quarter valued at $29,000. Itau Unibanco Holding S.A. lifted its stake in shares of Monolithic Power Systems by 637.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company's stock worth $35,000 after buying an additional 51 shares in the last quarter. Global Financial Private Client LLC lifted its stake in shares of Monolithic Power Systems by 265.0% in the first quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company's stock worth $42,000 after buying an additional 53 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Monolithic Power Systems in the fourth quarter worth about $47,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Monolithic Power Systems in the first quarter worth about $54,000. 93.46% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Monolithic Power Systems
In related news, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems 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 completion of the transaction, the director owned 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of Monolithic Power Systems stock in a transaction that occurred 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 transaction, the chief financial officer owned 46,939 shares of the company's stock, valued at $35,204,250. This represents a 11.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,200 shares of company stock worth $13,046,800. Corporate insiders own 3.40% of the company's stock.
Monolithic Power Systems Stock Up 5.7%
Shares of MPWR traded up $45.01 during trading on Monday, reaching $830.63. 1,360,386 shares of the company traded hands, compared to its average volume of 580,987. Monolithic Power Systems, Inc. has a twelve month low of $438.86 and a twelve month high of $959.64. The stock has a market cap of $39.77 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 3.12 and a beta of 1.18. The stock has a 50-day simple moving average of $718.72 and a 200-day simple moving average of $652.39.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $4.12 by $0.09. The firm had revenue of $664.57 million during the quarter, compared to analysts' expectations of $648.74 million. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. The business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.17 earnings per share. On average, equities research 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 was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.56 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.8%. Monolithic Power Systems's payout ratio is 16.25%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Loop Capital raised their price target on shares of Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued an "outperform" rating and issued a $875.00 price target (up from $720.00) on shares of Monolithic Power Systems in a research note on Friday. Citigroup raised their price target on shares of Monolithic Power Systems from $785.00 to $825.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer restated an "outperform" rating and set a $800.00 price objective (up from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday, July 15th. Finally, TD Cowen raised 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 report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $838.09.
View Our Latest Stock Report on MPWR
Monolithic Power Systems Profile
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Free Report)
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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