Monolithic Power Systems, Inc. $MPWR Stock Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Monolithic Power Systems stake by 3.8% in the third quarter, selling 3,803 shares; it retained 96,933 shares valued at about $130.6 million.
• Monolithic Power Systems beat quarterly earnings and revenue estimates, reporting EPS of $8.19 versus $7.79 expected and revenue of $1.20 billion versus $1.16 billion. Revenue rose 63.1% year over year.
• Analysts maintain a consensus Buy rating, with an average price target of $1,783.77, though some firms recently lowered their targets while keeping positive ratings.

Pictet Asset Management Holding SA lessened its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,933 shares of the semiconductor company's stock after selling 3,803 shares during the period. Pictet Asset Management Holding SA owned about 0.20% of Monolithic Power Systems worth $130,595,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MPWR. BlackRock Inc. acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter worth about $7,727,289,000. 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 acquired a new position in Monolithic Power Systems in the second quarter valued at about $497,561,000. Royal Bank of Canada boosted its position in Monolithic Power Systems by 168.1% in the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock valued at $517,557,000 after buying an additional 296,788 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Monolithic Power Systems in the second quarter valued at about $402,414,000. Institutional investors own 93.46% of the company's stock.

Monolithic Power Systems Stock Performance

Shares of NASDAQ:MPWR opened at $1,190.44 on Monday. The business has a fifty day moving average of $1,267.39 and a 200-day moving average of $1,315.87. Monolithic Power Systems, Inc. has a twelve month low of $833.18 and a twelve month high of $1,714.09. The firm has a market cap of $58.06 billion, a PE ratio of 65.73 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.79 by $0.40. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $4.73 EPS. The firm's quarterly revenue was up 63.1% on a year-over-year basis. On average, analysts anticipate that Monolithic Power Systems, Inc. will post 23.72 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.7%. Monolithic Power Systems's payout ratio is currently 44.17%.

Insider Buying and Selling at Monolithic Power Systems

In other news, Director Kuo Wei Chang sold 50 shares of the company'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 transaction of $64,078.50. Following the transaction, the director directly owned 515 shares in the company, valued at approximately $660,008.55. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on MPWR shares. Oppenheimer decreased their price objective on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an "outperform" rating on the stock in a research note on Friday, October 23rd. Wells Fargo & Company cut their target price on shares of Monolithic Power Systems from $1,800.00 to $1,550.00 and set an "overweight" rating for the company in a research note on Tuesday, October 20th. Zacks Research raised Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, November 2nd. Truist Financial increased their price target on Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Finally, Arete Research began coverage on Monolithic Power Systems in a research report on Thursday, August 20th. They set a "buy" rating and a $2,013.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Monolithic Power Systems presently has a consensus rating of "Buy" and an average target price of $1,783.77.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company's products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.

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