Monolithic Power Systems, Inc. $MPWR Shares Sold by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management reduced its Monolithic Power Systems position by 12.1% in the third quarter, selling 1,247 shares and retaining 9,054 shares worth approximately $12.2 million. Institutional investors collectively own 93.46% of MPWR.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $1,692.64, despite several firms recently lowering their targets.
• Monolithic Power Systems reported strong quarterly results, with earnings of $6.50 per share and revenue of $980.64 million, up 47.6% year over year. The company also paid a quarterly dividend of $2.00 per share, equivalent to a 0.7% annualized yield.

Carderock Capital Management Inc. lowered its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,054 shares of the semiconductor company's stock after selling 1,247 shares during the quarter. Monolithic Power Systems makes up about 3.0% of Carderock Capital Management Inc.'s portfolio, making the stock its 10th biggest position. Carderock Capital Management Inc.'s holdings in Monolithic Power Systems were worth $12,198,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MPWR. BlackRock Inc. bought a new stake in shares of Monolithic Power Systems in the second quarter valued at about $7,727,289,000. Bank of America Corp DE bought a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at about $741,271,000. Legal & General Group Plc bought a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at about $497,561,000. Royal Bank of Canada lifted its position in shares of Monolithic Power Systems by 168.1% in the 1st quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock worth $517,557,000 after purchasing an additional 296,788 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Monolithic Power Systems in the 2nd quarter worth approximately $402,414,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the completion of the transaction, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total value 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. The trade was a 8.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 130 shares of company stock worth $175,397. 3.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Oppenheimer lowered their target price on Monolithic Power Systems from $1,700.00 to $1,500.00 and set an "outperform" rating for the company in a report on Friday. TD Cowen dropped their target price on Monolithic Power Systems from $1,850.00 to $1,700.00 and set a "buy" rating on the stock in a research report on Monday, October 19th. Wells Fargo & Company cut their price target on Monolithic Power Systems from $1,800.00 to $1,550.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Wall Street Zen cut Monolithic Power Systems from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Monolithic Power Systems presently has an average rating of "Moderate Buy" and an average target price of $1,692.64.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $1,140.12 on Friday. The stock's 50-day simple moving average is $1,286.36 and its 200-day simple moving average is $1,395.71. The firm has a market capitalization of $56.03 billion, a PE ratio of 69.90 and a beta of 1.68. Monolithic Power Systems, Inc. has a fifty-two week low of $833.18 and a fifty-two week high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%. The firm had revenue of $980.64 million during the quarter, compared to the consensus estimate of $903.30 million. During the same quarter in the previous year, the company posted $4.21 earnings per share. The company's revenue was up 47.6% compared to the same quarter last year. Sell-side analysts forecast that Monolithic Power Systems, Inc. will post 23.95 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Monolithic Power Systems's dividend payout ratio is 49.05%.

About Monolithic Power Systems

Monolithic Power Systems, Inc NASDAQ: MPWR is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help regulate, convert, distribute and control electrical power in electronic systems, supporting applications that require efficient and reliable power delivery.

The company's portfolio includes integrated circuits, power modules, battery-management products, motor drivers, LED drivers and related analog and mixed-signal semiconductor solutions.

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