Monolithic Power Systems, Inc. $MPWR Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Monolithic Power Systems stake by 13.7% in the second quarter, selling 17,282 shares. It still held 108,573 shares worth approximately $150.1 million, while institutional investors and hedge funds owned 93.46% of the company.
• Monolithic Power Systems reported strong quarterly results, with EPS of $6.50 versus the $5.87 consensus and revenue of $980.64 million, up 47.6% year over year. Analysts maintained a generally positive outlook, with an average “Moderate Buy” rating and a $1,731.42 price target.
• The company declared a quarterly dividend of $2.00 per share, equivalent to $8.00 annually and a 0.6% yield. Meanwhile, insiders sold 160 shares worth about $215,945 during the last quarter.

Envestnet Asset Management Inc. trimmed its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 13.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,573 shares of the semiconductor company's stock after selling 17,282 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of Monolithic Power Systems worth $150,087,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac acquired a new position in shares of Monolithic Power Systems during the 4th quarter valued at $3,983,000. Baker Avenue Asset Management LP lifted its holdings in shares of Monolithic Power Systems by 436.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,182 shares of the semiconductor company's stock valued at $2,884,000 after buying an additional 2,589 shares during the period. Norges Bank bought a new position in Monolithic Power Systems during the fourth quarter valued at about $658,656,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Monolithic Power Systems during the fourth quarter valued at about $1,283,000. Finally, IFM Investors Pty Ltd acquired a new position in Monolithic Power Systems during the first quarter worth about $10,462,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Kuo Wei Chang sold 50 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the sale, the director directly owned 515 shares in the company, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction dated 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 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160 shares of company stock worth $215,945 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Monolithic Power Systems Price Performance

Shares of MPWR opened at $1,367.43 on Friday. The company has a 50-day moving average of $1,302.11 and a two-hundred day moving average of $1,361.38. The stock has a market cap of $67.20 billion, a price-to-earnings ratio of 83.84 and a beta of 1.66. Monolithic Power Systems, Inc. has a one year low of $833.18 and a one year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $903.30 million. During the same quarter in the previous year, the business earned $4.21 earnings per share. The firm's revenue was up 47.6% compared to the same quarter last year. Analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. Monolithic Power Systems's payout ratio is currently 49.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial reissued an "outperform" rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $1,575.00 price objective on shares of Monolithic Power Systems in a research note on Friday, July 31st. Truist Financial boosted their target price on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Needham & Company LLC increased their target price 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. Finally, Wells Fargo & Company raised their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Monolithic Power Systems presently has an average rating of "Moderate Buy" and an average price target of $1,731.42.

About Monolithic Power Systems

Monolithic Power Systems, Inc NASDAQ: MPWR designs, develops and markets high-performance semiconductor solutions, with a focus on power management. Its products help regulate, convert and control electrical power in electronic systems, enabling more efficient operation in applications ranging from computing and communications equipment to automotive, industrial and consumer devices.

The company's portfolio includes DC-to-DC converters, power modules, battery chargers, power-management integrated circuits, motor drivers, LED drivers, voltage regulators and other analog semiconductor products.

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