Pinebridge Investments LLC Makes New Investment in Monolithic Power Systems, Inc. $MPWR

Key Points

• Pinebridge Investments LLC initiated a new position in Monolithic Power Systems, buying 1,578 shares valued at about $1.43 million in the fourth quarter.
• Monolithic Power Systems posted better-than-expected quarterly results, with EPS of $5.10 versus $4.90 expected and revenue of $804.19 million, up 26.1% year over year.
• Analyst sentiment remains positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $1,599.17.

Pinebridge Investments LLC bought a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,578 shares of the semiconductor company's stock, valued at approximately $1,430,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Monolithic Power Systems by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,074,033 shares of the semiconductor company's stock worth $5,591,998,000 after acquiring an additional 134,087 shares in the last quarter. State Street Corp grew its position in shares of Monolithic Power Systems by 0.7% in the 3rd quarter. State Street Corp now owns 2,134,704 shares of the semiconductor company's stock worth $1,968,578,000 after acquiring an additional 14,670 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Monolithic Power Systems by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,382,280 shares of the semiconductor company's stock worth $1,248,436,000 after acquiring an additional 44,583 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Monolithic Power Systems by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 863,228 shares of the semiconductor company's stock worth $794,723,000 after acquiring an additional 6,503 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Monolithic Power Systems in the 4th quarter worth approximately $658,656,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $1,559.18 on Tuesday. Monolithic Power Systems, Inc. has a 12-month low of $670.00 and a 12-month high of $1,714.09. The firm has a market capitalization of $76.60 billion, a P/E ratio of 112.41, a P/E/G ratio of 2.65 and a beta of 1.69. The business has a 50 day simple moving average of $1,472.19 and a 200 day simple moving average of $1,191.52.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.90 by $0.20. Monolithic Power Systems had a return on equity of 19.58% and a net margin of 22.84%.The business had revenue of $804.19 million during the quarter, compared to analyst estimates of $781.93 million. During the same quarter in the previous year, the firm posted $4.04 EPS. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. Research analysts anticipate that Monolithic Power Systems, Inc. will post 20.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on MPWR. Oppenheimer set a $1,700.00 target price on Monolithic Power Systems in a research report on Friday, May 1st. Weiss Ratings lowered Monolithic Power Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 28th. Citigroup reiterated a "buy" rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. TD Cowen lifted their target price on Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, KeyCorp boosted their price objective on Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Monolithic Power Systems has a consensus rating of "Moderate Buy" and a consensus price target of $1,599.17.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Deming Xiao sold 30,000 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,654.55, for a total transaction of $49,636,500.00. Following the sale, the executive vice president owned 205,959 shares of the company's stock, valued at $340,769,463.45. The trade was a 12.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Zhou sold 1,014 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,587.06, for a total value of $1,609,278.84. Following the sale, the director directly owned 4,786 shares in the company, valued at $7,595,669.16. The trade was a 17.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 113,073 shares of company stock worth $160,875,958. 3.40% of the stock is owned by company insiders.

Monolithic Power Systems Profile

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.

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