Monolithic Power Systems, Inc. $MPWR Stock Holdings Lessened by Patton Fund Management Inc.

Key Points

• Patton Fund Management cut its stake in Monolithic Power Systems by 62.8% in the first quarter, leaving it with 2,240 shares valued at about $2.45 million.
• Despite the sale, institutional ownership remains high at 93.46%, and several major investors increased or initiated positions in MPWR during the latest reporting periods.
• Monolithic Power Systems posted strong quarterly results, with EPS of $5.10 and revenue of $804.19 million, both above expectations, while analysts mostly maintain Buy/Overweight ratings and an average price target of $1,599.17.

Patton Fund Management Inc. lessened its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 62.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,240 shares of the semiconductor company's stock after selling 3,789 shares during the period. Patton Fund Management Inc.'s holdings in Monolithic Power Systems were worth $2,449,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MPWR. Corient Private Wealth LLC raised its position in shares of Monolithic Power Systems by 3,719.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock worth $1,855,476,000 after purchasing an additional 1,993,576 shares during the period. Norges Bank purchased a new position in Monolithic Power Systems in the 4th quarter worth about $658,656,000. Invesco Ltd. increased its stake in Monolithic Power Systems by 25.9% in the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company's stock worth $1,300,345,000 after purchasing an additional 295,556 shares in the last quarter. SG Americas Securities LLC raised its holdings in 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 worth $237,676,000 after buying an additional 261,893 shares during the period. Finally, First Trust Advisors LP raised its holdings in Monolithic Power Systems by 56.6% during the 4th quarter. First Trust Advisors LP now owns 701,454 shares of the semiconductor company's stock worth $635,770,000 after buying an additional 253,653 shares during the period. 93.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MPWR shares. Oppenheimer set a $1,700.00 target price on shares of Monolithic Power Systems in a report on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of Monolithic Power Systems from $1,650.00 to $1,860.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Raymond James Financial restated an "outperform" rating and issued a $1,800.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. Needham & Company LLC raised their price objective on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, KeyCorp lifted their price objective on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,599.17.

Insider Transactions at Monolithic Power Systems

In other news, Director Jeff Zhou sold 1,014 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,587.06, for a total transaction of $1,609,278.84. Following the transaction, the director directly owned 4,786 shares in the company, valued at $7,595,669.16. The trade was a 17.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Saria Tseng sold 8,963 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $1,305.22, for a total transaction of $11,698,686.86. Following the completion of the transaction, the executive vice president directly owned 156,983 shares in the company, valued at $204,897,351.26. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 87,369 shares of company stock worth $134,899,529. 3.60% of the stock is owned by company insiders.

Monolithic Power Systems Trading Up 0.2%

Shares of NASDAQ MPWR opened at $1,316.24 on Monday. Monolithic Power Systems, Inc. has a one year low of $686.87 and a one year high of $1,714.09. The firm has a market capitalization of $64.67 billion, a PE ratio of 94.90, a PEG ratio of 2.35 and a beta of 1.69. The business has a 50-day moving average price of $1,553.78 and a two-hundred day moving average price of $1,248.67.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.90 by $0.20. The company 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 revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.04 EPS. Research analysts anticipate that Monolithic Power Systems, Inc. will post 20.13 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is 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 presently 57.68%.

About Monolithic Power Systems

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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