Monolithic Power Systems, Inc. $MPWR Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings cut its Monolithic Power Systems stake by 9.1% in the third quarter, selling 7,699 shares; it retained 76,642 shares valued at about $104.3 million.
• Monolithic Power Systems beat quarterly expectations, reporting EPS of $8.19 versus $7.79 expected and revenue of $1.20 billion versus $1.16 billion. Revenue increased 63.1% year over year.
• Analyst sentiment was broadly positive: the stock carried an average “Buy” rating and an average price target of $1,783.77.

Allspring Global Investments Holdings LLC reduced its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,642 shares of the semiconductor company's stock after selling 7,699 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of Monolithic Power Systems worth $104,307,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MPWR. WestEnd Advisors LLC lifted its holdings in shares of Monolithic Power Systems by 2,000.0% during the third quarter. WestEnd Advisors LLC now owns 21 shares of the semiconductor company's stock worth $28,000 after buying an additional 20 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Monolithic Power Systems in the second quarter valued at approximately $35,000. Danske Bank A S bought a new stake in shares of Monolithic Power Systems in the second quarter valued at approximately $36,000. Continuum Advisory LLC acquired a new stake in shares of Monolithic Power Systems in the second quarter worth $43,000. Finally, GK Wealth Management LLC acquired a new stake in shares of Monolithic Power Systems in the third quarter worth $43,000. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Stock Up 16.6%

NASDAQ:MPWR opened at $1,388.05 on Tuesday. The firm has a market capitalization of $67.70 billion, a PE ratio of 66.34 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12-month low of $833.18 and a 12-month high of $1,714.09. The firm has a 50-day moving average price of $1,270.03 and a 200 day moving average price of $1,317.43.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share for the quarter, beating the consensus estimate of $7.79 by $0.40. Monolithic Power Systems had a return on equity of 25.23% and a net margin of 23.85%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $4.73 EPS. The company's revenue was up 63.1% compared to the same quarter last year. On average, research analysts expect that Monolithic Power Systems, Inc. will post 23.72 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, September 30th. Monolithic Power Systems's dividend payout ratio is currently 44.17%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Monolithic Power Systems from $1,800.00 to $1,550.00 and set an "overweight" rating for the company in a report on Tuesday, October 20th. Rosenblatt Securities upgraded shares of Monolithic Power Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $1,575.00 to $1,700.00 in a report on Friday, October 30th. Needham & Company LLC reaffirmed a "buy" rating on shares of Monolithic Power Systems in a research report on Friday, October 30th. Zacks Research raised shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 2nd. Finally, Weiss Ratings raised Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $1,783.77.

Insider Activity

In related news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the transaction, the director directly owned 515 shares of the company's stock, valued at $660,008.55. This trade represents a 8.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company's stock.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company's products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.

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