Sterling Capital Management LLC Increases Holdings in Monolithic Power Systems, Inc. $MPWR

Key Points

• Sterling Capital Management boosted its stake in Monolithic Power Systems by 674.4% in the first quarter, ending with 3,485 shares worth about $3.81 million.
• Several institutional investors also increased holdings, and hedge funds and other institutions now own about 93.46% of the company.
• Monolithic Power Systems beat quarterly expectations with $5.10 EPS and $804.19 million in revenue, while analysts remain positive with a Moderate Buy consensus and an average price target of $1,599.17.

Sterling Capital Management LLC grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 674.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,485 shares of the semiconductor company's stock after acquiring an additional 3,035 shares during the quarter. Sterling Capital Management LLC's holdings in Monolithic Power Systems were worth $3,810,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC raised its position in shares of Monolithic Power Systems by 3,719.6% in the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock worth $1,855,476,000 after purchasing an additional 1,993,576 shares during the last quarter. Norges Bank purchased a new stake in Monolithic Power Systems during the 4th quarter valued at about $658,656,000. Invesco Ltd. increased its stake in Monolithic Power Systems by 25.9% during the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company's stock valued at $1,300,345,000 after purchasing an additional 295,556 shares in the last quarter. SG Americas Securities LLC increased its stake in Monolithic Power Systems by 77,483.1% during the 4th quarter. SG Americas Securities LLC now owns 262,231 shares of the semiconductor company's stock valued at $237,676,000 after purchasing an additional 261,893 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Monolithic Power Systems by 56.6% during the 4th quarter. First Trust Advisors LP now owns 701,454 shares of the semiconductor company's stock valued at $635,770,000 after purchasing an additional 253,653 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eugen J. Elmiger sold 12,000 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,584.96, for a total transaction of $19,019,520.00. Following the completion of the sale, the director owned 5,402 shares in the company, valued at approximately $8,561,953.92. This represents a 68.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maurice Sciammas sold 12,000 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $1,561.40, for a total value of $18,736,800.00. Following the completion of the transaction, the executive vice president directly owned 166,644 shares in the company, valued at $260,197,941.60. The trade was a 6.72% 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. Over the last three months, insiders sold 113,043 shares of company stock worth $160,843,106. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MPWR. KeyCorp upped their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Wells Fargo & Company boosted their price objective on shares of Monolithic Power Systems from $1,650.00 to $1,860.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. TD Cowen upped their price objective on Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Oppenheimer set a $1,700.00 target price on Monolithic Power Systems in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,599.17.

Monolithic Power Systems Stock Down 8.5%

Shares of MPWR stock opened at $1,316.24 on Friday. The company has a 50 day moving average price of $1,553.78 and a 200-day moving average price of $1,246.82. Monolithic Power Systems, Inc. has a 52 week low of $686.87 and a 52 week high of $1,714.09. The firm has a market capitalization of $64.67 billion, a PE ratio of 94.90, a P/E/G ratio of 2.35 and a beta of 1.69.

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

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Monolithic Power Systems's dividend payout ratio is presently 57.68%.

Monolithic Power Systems Company 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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