Pacer Advisors Inc. Boosts Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Pacer Advisors Inc. increased its holdings in Monolithic Power Systems, Inc. by 18.2%, owning a total of 9,686 shares worth approximately $5.6 million after acquiring additional shares during the 1st quarter.
• The semiconductor company reported earnings of $4.04 per share for the last quarter, exceeding expectations, with revenue increasing by 39.2% year-over-year.
• Monolithic Power Systems announced a quarterly dividend of $1.56, yielding 0.87%, with a dividend payout ratio of 16.56%.

Pacer Advisors Inc. grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,686 shares of the semiconductor company's stock after acquiring an additional 1,493 shares during the period. Pacer Advisors Inc.'s holdings in Monolithic Power Systems were worth $5,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MPWR. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Monolithic Power Systems by 13.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,719 shares of the semiconductor company's stock valued at $2,157,000 after buying an additional 438 shares during the period. OneDigital Investment Advisors LLC bought a new position in Monolithic Power Systems during the first quarter worth about $204,000. Praxis Investment Management Inc. acquired a new stake in Monolithic Power Systems during the 1st quarter valued at $980,000. Jackson Wealth Management LLC lifted its position in Monolithic Power Systems by 29.5% during the first quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company's stock worth $1,680,000 after acquiring an additional 659 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Monolithic Power Systems by 52.6% in the 1st quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company's stock valued at $379,000 after buying an additional 225 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Stock Down 0.3%

MPWR traded down $2.45 on Thursday, hitting $728.09. The company had a trading volume of 411,396 shares, compared to its average volume of 809,246. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $959.64. The company has a market cap of $34.86 billion, a PE ratio of 19.40, a PEG ratio of 2.87 and a beta of 1.20. The business's fifty day simple moving average is $712.10 and its 200 day simple moving average is $648.04.

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

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's payout ratio is 16.56%.

Wall Street Analyst Weigh In

MPWR has been the topic of several analyst reports. Oppenheimer reiterated an "outperform" rating and set a $800.00 price target (up previously from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday, July 15th. KeyCorp upped their price target on Monolithic Power Systems from $820.00 to $940.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $644.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Finally, TD Cowen boosted their price objective on Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $805.67.

Insider Buying and Selling at Monolithic Power Systems

In related news, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the completion of the transaction, the director directly owned 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total value of $8,412,000.00. Following the transaction, the executive vice president owned 4,015 shares in the company, valued at $2,814,515. This trade represents a 74.93% 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 worth $13,046,800. 3.40% of the stock is currently owned by insiders.

Monolithic Power Systems Company 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.