Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 355,312 shares of the semiconductor company's stock after purchasing an additional 5,390 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Monolithic Power Systems worth $206,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Monolithic Power Systems during the fourth quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Monolithic Power Systems during the fourth quarter worth $29,000. Itau Unibanco Holding S.A. boosted its position in shares of Monolithic Power Systems by 637.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company's stock worth $35,000 after buying an additional 51 shares during the period. AlphaQuest LLC purchased a new position in shares of Monolithic Power Systems during the fourth quarter worth $41,000. Finally, Global Financial Private Client LLC boosted its position in shares of Monolithic Power Systems by 265.0% during the first quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company's stock worth $42,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 93.46% of the company's stock.

Monolithic Power Systems Trading Down 0.6%

Shares of NASDAQ:MPWR traded down $4.39 during trading on Friday, hitting $736.06. 383,148 shares of the stock were exchanged, compared to its average volume of 804,600. The company has a fifty day moving average price of $701.64 and a two-hundred day moving average price of $638.14. The company has a market cap of $35.24 billion, a PE ratio of 19.54, a P/E/G ratio of 2.94 and a beta of 1.20. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, topping the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The business had revenue of $637.55 million for the quarter, compared to analyst estimates of $633.43 million. During the same quarter in the previous year, the company earned $2.81 EPS. The company's quarterly revenue was up 39.2% on a year-over-year basis. Equities research analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Monolithic Power Systems's payout ratio is currently 16.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised their price target on Monolithic Power Systems from $700.00 to $785.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. TD Cowen lifted their target price on Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Monolithic Power Systems from $665.00 to $695.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $644.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Monolithic Power Systems has a consensus rating of "Moderate Buy" and a consensus target price of $799.42.

Insider Activity at Monolithic Power Systems

In related news, Director Kuo Wei Herbert Chang sold 100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the sale, the director owned 676 shares of the company's stock, valued at approximately $471,848. This represents a 12.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $750.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief financial officer directly owned 46,939 shares in the company, valued at approximately $35,204,250. The trade was a 11.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,200 shares of company stock valued at $13,046,800. 3.40% of the stock is owned by corporate insiders.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.