Man Group plc acquired a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,110 shares of the semiconductor company's stock, valued at approximately $51,299,000. Man Group plc owned approximately 0.08% of Monolithic Power Systems at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPWR. BlackRock Inc. acquired a new position in Monolithic Power Systems during the second quarter worth $7,727,289,000. State Street Corp lifted its holdings in Monolithic Power Systems by 2.1% in the fourth quarter. State Street Corp now owns 2,180,419 shares of the semiconductor company's stock valued at $1,979,610,000 after acquiring an additional 45,715 shares during the period. Corient Private Wealth LLC lifted its holdings in Monolithic Power Systems by 3,719.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock valued at $1,855,476,000 after acquiring an additional 1,993,576 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Monolithic Power Systems by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,691,394 shares of the semiconductor company's stock worth $1,533,013,000 after purchasing an additional 117,596 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Monolithic Power Systems by 25.9% during the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company's stock worth $1,300,345,000 after purchasing an additional 295,556 shares during the period. Institutional investors and hedge funds own 93.46% of the company's stock.
Monolithic Power Systems Price Performance
Shares of NASDAQ MPWR opened at $1,303.88 on Thursday. The firm's 50-day moving average is $1,359.26 and its two-hundred day moving average is $1,350.32. The company has a market capitalization of $64.08 billion, a PE ratio of 79.94 and a beta of 1.69. Monolithic Power Systems, Inc. has a 12-month low of $800.97 and a 12-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 earnings per share for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The business had revenue of $980.64 million during the quarter, compared to analysts' expectations of $903.30 million. During the same period last year, the company posted $4.21 EPS. The company's revenue was up 47.6% on a year-over-year basis. On average, analysts forecast that Monolithic Power Systems, Inc. will post 23.35 EPS for the current fiscal year.
Monolithic Power Systems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems's payout ratio is 49.05%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on MPWR. Needham & Company LLC raised their price objective on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Raymond James Financial restated an "outperform" rating on shares of Monolithic Power Systems in a research report on Wednesday, August 12th. Arete Research set a $2,013.00 target price on shares of Monolithic Power Systems and gave the company a "buy" rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised Monolithic Power Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Monolithic Power Systems currently has a consensus rating of "Moderate Buy" and an average target price of $1,731.42.
Read Our Latest Report on MPWR
Insiders Place Their Bets
In other news, Director Kuo Wei Herbert Chang sold 50 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the sale, the director directly owned 515 shares in the company, valued at $660,008.55. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maurice Sciammas sold 30 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the sale, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. The trade was a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 190 shares of company stock valued at $261,964. Insiders own 3.60% of the company's stock.
Monolithic Power Systems Profile
(
Free Report)
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.
Further Reading
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