Maryland State Retirement & Pension System Sells 313 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Maryland State Retirement & Pension System decreased its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,195 shares of the semiconductor company's stock after selling 313 shares during the quarter. Maryland State Retirement & Pension System's holdings in Monolithic Power Systems were worth $1,273,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Monolithic Power Systems in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. raised 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 purchasing an additional 51 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Monolithic Power Systems by 146.4% during the 1st quarter. Meeder Asset Management Inc. now owns 69 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 41 shares in the last quarter. Global Financial Private Client LLC grew its position in shares of Monolithic Power Systems by 265.0% in the 1st quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 53 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Monolithic Power Systems in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR traded up $21.24 during trading hours on Wednesday, reaching $861.80. The stock had a trading volume of 543,873 shares, compared to its average volume of 814,687. The stock has a 50 day simple moving average of $734.63 and a 200 day simple moving average of $658.40. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $959.64. The stock has a market cap of $41.27 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.09. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. The business had revenue of $664.57 million for the quarter, compared to analysts' expectations of $648.74 million. During the same period in the prior year, the company posted $3.17 EPS. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's payout ratio is currently 16.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup restated a "buy" rating and set a $825.00 price objective (up from $785.00) on shares of Monolithic Power Systems in a report on Monday, August 4th. Oppenheimer restated an "outperform" rating and issued a $800.00 price target (up from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Stifel Nicolaus lifted their target price on Monolithic Power Systems from $880.00 to $930.00 and gave the company a "buy" rating in a research report on Friday, August 1st. KeyCorp boosted their target price on Monolithic Power Systems from $940.00 to $950.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Loop Capital upped their price target on Monolithic Power Systems from $760.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $838.09.

Insider Activity at Monolithic Power Systems

In related news, EVP Deming Xiao sold 39,999 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $780.00, for a total value of $31,199,220.00. Following the sale, the executive vice president directly owned 121,605 shares of the company's stock, valued at $94,851,900. This represents a 24.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore Blegen sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 owned 46,939 shares in the company, valued at $35,204,250. The trade was a 11.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,199 shares of company stock worth $38,115,220 in the last 90 days. Company insiders own 3.40% of the company's stock.

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.