Pictet Asset Management Holding SA Sells 4,788 Shares of Monolithic Power Systems, Inc. $MPWR

Key Points

• Pictet Asset Management trimmed its stake in Monolithic Power Systems by 3%, selling 4,788 shares and leaving it with 153,003 shares valued at about $138.7 million; institutional investors now own roughly 93.46% of the stock.
• Monolithic reported a quarterly EPS beat ($4.79 vs. $4.74) and revenue of $751.16 million, up 20.8% year‑over‑year, and analysts project about 17.01 EPS for the current fiscal year.
• The company raised its quarterly dividend to $2.00 (annualized $8.00, 0.5% yield), but insiders sold 137,683 shares (~$158M) in the past 90 days and the stock trades at a high valuation (market cap ~$77.98B, PE ~124.6) versus an average analyst target of ~$1,260.

Pictet Asset Management Holding SA trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,003 shares of the semiconductor company's stock after selling 4,788 shares during the quarter. Pictet Asset Management Holding SA owned 0.32% of Monolithic Power Systems worth $138,689,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Monolithic Power Systems by 46.0% during the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock worth $376,000 after buying an additional 200 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Monolithic Power Systems by 3.1% during the first quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company's stock valued at $3,088,000 after buying an additional 161 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Monolithic Power Systems by 3.5% during the second quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company's stock valued at $6,863,000 after buying an additional 314 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Monolithic Power Systems by 35.2% during the second quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company's stock worth $26,175,000 after acquiring an additional 9,315 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Monolithic Power Systems in the 2nd quarter worth about $347,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR opened at $1,587.57 on Tuesday. The stock has a market capitalization of $77.98 billion, a PE ratio of 124.61, a P/E/G ratio of 4.13 and a beta of 1.48. Monolithic Power Systems, Inc. has a one year low of $562.38 and a one year high of $1,661.79. The business's fifty day moving average price is $1,206.36 and its 200-day moving average price is $1,074.80.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.05. The company had revenue of $751.16 million during the quarter, compared to analyst estimates of $741.69 million. Monolithic Power Systems had a return on equity of 18.33% and a net margin of 22.07%.The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.09 EPS. As a group, equities analysts expect that Monolithic Power Systems, Inc. will post 17.01 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 31st. This is a positive change from Monolithic Power Systems's previous quarterly dividend of $1.56. This represents a $8.00 annualized dividend and a dividend yield of 0.5%. Monolithic Power Systems's dividend payout ratio is 62.79%.

Insider Buying and Selling at Monolithic Power Systems

In related news, Director Victor K. Lee sold 400 shares of the company's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $1,212.16, for a total transaction of $484,864.00. Following the sale, the director directly owned 27,756 shares in the company, valued at approximately $33,644,712.96. This represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Saria Tseng sold 8,963 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $1,305.22, for a total transaction of $11,698,686.86. Following the completion of the transaction, the executive vice president owned 156,983 shares of the company's stock, valued at $204,897,351.26. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 137,683 shares of company stock worth $158,138,447. 3.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPWR. Citigroup raised their price target on shares of Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a research report on Monday, February 9th. Zacks Research lowered Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Truist Financial increased their price objective on Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Rosenblatt Securities raised their target price on Monolithic Power Systems from $950.00 to $1,000.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Finally, William Blair reissued an "outperform" rating on shares of Monolithic Power Systems in a research report on Thursday, March 5th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,260.08.

About Monolithic Power Systems

Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.

Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.