Strs Ohio Sells 8,002 Shares of Monolithic Power Systems, Inc. $MPWR

Key Points

• Strs Ohio trimmed its stake in Monolithic Power Systems by 10.3% in the first quarter, selling 8,002 shares and ending with 69,807 shares valued at about $76.3 million.
• Insiders were also sellers: Director Eugen J. Elmiger sold 12,000 shares and Director Jeff Zhou sold 1,014 shares, while insiders collectively sold 85,939 shares over the last 90 days.
• Analysts remain upbeat on MPWR, with multiple firms raising price targets after the company beat quarterly earnings estimates; the stock also recently fell 3.3% and trades near $1,288.16.

Strs Ohio reduced its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,807 shares of the semiconductor company's stock after selling 8,002 shares during the period. Strs Ohio owned about 0.14% of Monolithic Power Systems worth $76,323,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Monolithic Power Systems in the 4th quarter valued at approximately $34,000. IFP Advisors Inc raised its holdings in shares of Monolithic Power Systems by 171.4% in the third quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 24 shares during the last quarter. Covestor Ltd raised its holdings in shares of Monolithic Power Systems by 29.0% in the fourth quarter. Covestor Ltd now owns 40 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 9 shares during the last quarter. Greenline Wealth Management LLC bought a new stake in shares of Monolithic Power Systems in the fourth quarter worth $38,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Monolithic Power Systems by 23.7% in the first quarter. Bell Investment Advisors Inc now owns 47 shares of the semiconductor company's stock worth $51,000 after purchasing an additional 9 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Insider Activity at Monolithic Power Systems

In other news, Director Eugen J. Elmiger sold 12,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,584.96, for a total value of $19,019,520.00. Following the sale, the director directly owned 5,402 shares of the company's stock, valued at approximately $8,561,953.92. This represents a 68.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Zhou sold 1,014 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,587.06, for a total transaction of $1,609,278.84. Following the completion of the sale, the director owned 4,786 shares of the company's stock, valued at $7,595,669.16. This trade represents a 17.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 85,939 shares of company stock worth $133,279,108 over the last ninety days. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

MPWR has been the subject of a number of analyst reports. Needham & Company LLC raised their target price on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Raymond James Financial reissued an "outperform" rating and set a $1,800.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. Citigroup restated a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. Rosenblatt Securities raised their price objective on Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Finally, TD Cowen lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,599.17.

Monolithic Power Systems Stock Down 3.3%

Shares of Monolithic Power Systems stock opened at $1,288.16 on Friday. The stock has a market cap of $63.29 billion, a P/E ratio of 92.87, a P/E/G ratio of 2.38 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12-month low of $686.87 and a 12-month high of $1,714.09. The business's 50 day moving average is $1,542.33 and its 200-day moving average is $1,258.86.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $804.19 million during the quarter, compared to analysts' expectations of $781.93 million. During the same period last year, the business earned $4.04 earnings per share. The firm's revenue was up 26.1% on a year-over-year basis. On average, sell-side analysts expect that Monolithic Power Systems, Inc. will post 20.13 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis 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 (DPR) is 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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