Monolithic Power Systems, Inc. $MPWR Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc trimmed its stake in Monolithic Power Systems by 0.5% in the fourth quarter, though it still held 356,639 shares valued at about $323.2 million.
• Monolithic Power Systems reported strong quarterly results, with EPS of $5.10 beating estimates and revenue of $804.19 million topping forecasts; revenue also rose 26.1% year over year.
• Wall Street remains broadly positive on MPWR, with 12 Buy ratings and 3 Hold ratings, and several analysts raised price targets, giving the stock an average target price of $1,599.17.

Legal & General Group Plc decreased its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 356,639 shares of the semiconductor company's stock after selling 1,790 shares during the quarter. Legal & General Group Plc owned approximately 0.74% of Monolithic Power Systems worth $323,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MPWR. SG Americas Securities LLC boosted its position in shares of Monolithic Power Systems by 77,483.1% during the 4th quarter. SG Americas Securities LLC now owns 262,231 shares of the semiconductor company's stock valued at $237,676,000 after acquiring an additional 261,893 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Monolithic Power Systems by 66.4% during the 3rd quarter. First Trust Advisors LP now owns 447,801 shares of the semiconductor company's stock valued at $412,263,000 after acquiring an additional 178,622 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Monolithic Power Systems by 36.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company's stock valued at $386,991,000 after acquiring an additional 140,269 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Monolithic Power Systems by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,074,033 shares of the semiconductor company's stock valued at $5,591,998,000 after acquiring an additional 134,087 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Monolithic Power Systems during the 3rd quarter valued at about $121,658,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Monolithic Power Systems Price Performance

NASDAQ MPWR opened at $1,662.98 on Wednesday. The firm's 50-day moving average is $1,379.51 and its two-hundred day moving average is $1,149.51. Monolithic Power Systems, Inc. has a 12 month low of $643.36 and a 12 month high of $1,714.09. The stock has a market capitalization of $81.70 billion, a P/E ratio of 119.90, a PEG ratio of 2.84 and a beta of 1.74.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its 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. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. The company had revenue of $804.19 million for the quarter, compared to analysts' expectations of $781.93 million. During the same quarter in the prior year, the company posted $4.04 earnings per share. Monolithic Power Systems's revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 20.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MPWR. Rosenblatt Securities boosted their price target on shares of Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Truist Financial set a $1,805.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. Citigroup reaffirmed a "buy" rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. Stifel Nicolaus upped their target price on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Needham & Company LLC upped their target price on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,599.17.

Insider Buying and Selling

In other Monolithic Power Systems news, Director Eugen J. Elmiger sold 12,000 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,584.96, for a total transaction of $19,019,520.00. Following the sale, the director directly owned 5,402 shares in the company, valued at $8,561,953.92. This represents a 68.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maurice Sciammas sold 12,000 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $1,561.40, for a total transaction of $18,736,800.00. Following the sale, the executive vice president owned 166,644 shares in the company, valued at $260,197,941.60. This trade represents a 6.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 99,992 shares of company stock valued at $139,220,810 over the last three months. Company insiders own 3.40% of the company's stock.

Monolithic Power Systems Company 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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