Monolithic Power Systems, Inc. $MPWR Stock Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management cut its Monolithic Power Systems stake by 92.3% in the third quarter, leaving it with 271 shares worth approximately $365,000. Institutional investors overall own 93.46% of MPWR.
• Analysts remain broadly optimistic: MPWR has a “Moderate Buy” consensus rating, with one Strong Buy, 12 Buy and two Hold ratings, and an average price target of $1,731.42.
• Monolithic Power Systems reported quarterly earnings of $6.50 per share and revenue of $980.64 million, exceeding estimates and representing 47.6% year-over-year revenue growth. The company also declared a quarterly dividend of $2.00 per share, equivalent to a 0.5% annual yield.

Argent Capital Management LLC cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 92.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271 shares of the semiconductor company's stock after selling 3,236 shares during the period. Argent Capital Management LLC's holdings in Monolithic Power Systems were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Monolithic Power Systems during the second quarter worth $7,727,289,000. Corient Private Wealth LLC grew its holdings in Monolithic Power Systems by 3,719.6% during the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock valued at $1,855,476,000 after purchasing an additional 1,993,576 shares during the last quarter. Bank of America Corp DE bought a new position in Monolithic Power Systems during the 2nd quarter valued at about $741,271,000. Legal & General Group Plc purchased a new stake in Monolithic Power Systems in the 2nd quarter worth about $497,561,000. Finally, Royal Bank of Canada raised its position in 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. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPWR has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Arete Research set a $2,013.00 price target on Monolithic Power Systems and gave the stock a "buy" rating in a research note on Thursday, August 20th. Wall Street Zen upgraded Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Saturday. Truist Financial boosted their price objective on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings downgraded Monolithic Power Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,731.42.

Monolithic Power Systems Trading Up 2.8%

MPWR opened at $1,479.89 on Tuesday. The company has a market capitalization of $72.73 billion, a price-to-earnings ratio of 90.74 and a beta of 1.68. Monolithic Power Systems, Inc. has a 12-month low of $833.18 and a 12-month high of $1,714.09. The business's fifty day simple moving average is $1,305.20 and its 200-day simple moving average is $1,377.41.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping 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 company had revenue of $980.64 million during the quarter, compared to analyst estimates of $903.30 million. During the same period in the prior year, the firm earned $4.21 earnings per share. The firm's revenue for the quarter was up 47.6% compared to the same quarter last year. On average, equities research analysts predict that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 yield of 0.5%. Monolithic Power Systems's dividend payout ratio is currently 49.05%.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the transaction, the director owned 515 shares in the company, valued at $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maurice Sciammas sold 30 shares of the business's stock in a transaction dated 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 owned 1,119 shares of the company's stock, valued at $1,503,868.86. This represents a 2.61% 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. Insiders have sold a total of 130 shares of company stock worth $175,397 in the last ninety days. Insiders own 3.60% of the company's stock.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc NASDAQ: MPWR is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company's product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.

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