New York State Common Retirement Fund lessened its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,906 shares of the semiconductor company's stock after selling 500 shares during the period. New York State Common Retirement Fund's holdings in Monolithic Power Systems were worth $13,865,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in MPWR. Vanguard Group Inc. grew its holdings in Monolithic Power Systems by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,824,274 shares of the semiconductor company's stock worth $3,446,223,000 after acquiring an additional 74,046 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Monolithic Power Systems by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,528,301 shares of the semiconductor company's stock valued at $904,297,000 after buying an additional 214,395 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Monolithic Power Systems by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,365,459 shares of the semiconductor company's stock valued at $807,158,000 after buying an additional 31,295 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Monolithic Power Systems by 7.5% in the 4th quarter. Invesco Ltd. now owns 1,162,482 shares of the semiconductor company's stock valued at $687,841,000 after buying an additional 81,412 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Monolithic Power Systems by 0.5% in the 4th quarter. Brown Advisory Inc. now owns 986,005 shares of the semiconductor company's stock valued at $583,420,000 after buying an additional 5,274 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.
Monolithic Power Systems Stock Performance
Monolithic Power Systems stock traded up $11.67 during trading on Friday, reaching $725.24. The company had a trading volume of 432,635 shares, compared to its average volume of 804,390. The firm's 50-day simple moving average is $710.15 and its 200 day simple moving average is $642.58. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $959.64. The firm has a market capitalization of $34.72 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.88 and a beta of 1.20.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $633.43 million. During the same quarter in the previous year, the company posted $2.81 EPS. The firm's quarterly revenue was up 39.2% on a year-over-year basis. Analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.
Monolithic Power Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $1.56 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.24 dividend on an annualized basis and a yield of 0.86%. Monolithic Power Systems's dividend payout ratio (DPR) is presently 16.56%.
Insiders Place Their Bets
In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director directly owned 676 shares in the company, valued at $471,848. This represents a 12.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maurice Sciammas sold 12,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,200 shares of company stock worth $13,046,800 over the last three months. Company insiders own 3.40% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on MPWR shares. Wells Fargo & Company lifted their target price on shares of Monolithic Power Systems from $695.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Wednesday. KeyCorp lifted their target price on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Stifel Nicolaus lowered their target price on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and issued a $720.00 target price (down from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $800.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $802.33.
View Our Latest Stock Report on Monolithic Power Systems
Monolithic Power Systems Company Profile
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Free Report)
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.
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