Meeder Asset Management Inc. Sells 14,595 Shares of Monolithic Power Systems, Inc. $MPWR

Key Points

• Meeder Asset Management nearly exited its position in Monolithic Power Systems during the first quarter, cutting its holdings by 99.4% after selling 14,595 shares and leaving just 86 shares valued at about $94,000.
• Insider selling was notable, with directors Eugen J. Elmiger and Jeff Zhou both selling shares in May, and insiders selling 69,370 shares worth about $112.7 million in the last quarter overall.
• Analysts remain bullish on MPWR, with recent upgrades and higher price targets from firms including Zacks, Stifel, KeyCorp, Citigroup, and Raymond James; the stock currently carries a “Moderate Buy” consensus target of $1,657.27.

Meeder Asset Management Inc. trimmed its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 99.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86 shares of the semiconductor company's stock after selling 14,595 shares during the period. Meeder Asset Management Inc.'s holdings in Monolithic Power Systems were worth $94,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MPWR. Brighton Jones LLC grew its position in Monolithic Power Systems by 46.0% during the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after buying an additional 200 shares during the period. Empowered Funds LLC raised its position in Monolithic Power Systems by 3.1% in the first quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company's stock worth $3,088,000 after acquiring an additional 161 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Monolithic Power Systems by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company's stock worth $6,863,000 after acquiring an additional 314 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Monolithic Power Systems by 35.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company's stock worth $26,175,000 after acquiring an additional 9,315 shares during the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at $347,000. 93.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Eugen J. Elmiger sold 12,000 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,584.96, for a total value of $19,019,520.00. Following the transaction, the director owned 5,402 shares of the company's stock, valued at approximately $8,561,953.92. The trade was a 68.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Zhou sold 1,014 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,587.06, for a total transaction of $1,609,278.84. Following the transaction, the director owned 4,786 shares of the company's stock, valued at approximately $7,595,669.16. This represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,370 shares of company stock worth $112,702,503 in the last quarter. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MPWR shares. Zacks Research upgraded Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 18th. Stifel Nicolaus upped their price target on Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. KeyCorp raised their price objective on Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Citigroup reaffirmed a "buy" rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. Finally, Raymond James Financial reiterated an "outperform" rating and set a $1,800.00 price objective on shares of Monolithic Power Systems in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,657.27.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $1,398.45 on Thursday. Monolithic Power Systems, Inc. has a fifty-two week low of $702.56 and a fifty-two week high of $1,714.09. The company has a market capitalization of $68.71 billion, a P/E ratio of 100.83, a P/E/G ratio of 2.46 and a beta of 1.71. The company has a fifty day moving average of $1,470.13 and a 200 day moving average of $1,298.38.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.90 by $0.20. The business had revenue of $804.19 million for the quarter, compared to analysts' expectations of $781.93 million. Monolithic Power Systems had a return on equity of 19.58% and a net margin of 22.84%.The business's quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the firm earned $4.04 earnings per share. Analysts forecast that Monolithic Power Systems, Inc. will post 20.2 EPS for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. Monolithic Power Systems's payout ratio is currently 57.68%.

Monolithic Power Systems 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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