The Manufacturers Life Insurance Company Trims Stake in Monolithic Power Systems, Inc. $MPWR

Key Points

• The Manufacturers Life Insurance Company reduced its Monolithic Power Systems stake by 7.8% in the first quarter, selling 4,179 shares and retaining 49,654 shares worth approximately $54.3 million. Institutional investors collectively own 93.46% of MPWR.
• Analyst sentiment remains positive, with one Strong Buy, 11 Buy and two Hold ratings. The consensus price target is $1,657.27, while several firms recently raised their targets, including KeyCorp to $2,000.
• Monolithic Power Systems exceeded quarterly expectations, reporting EPS of $5.10 versus $4.90 expected and revenue of $804.19 million, up 26.1% year over year. Meanwhile, insiders sold 69,370 shares worth about $112.7 million over the past three months.

The Manufacturers Life Insurance Company lowered its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 7.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,654 shares of the semiconductor company's stock after selling 4,179 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of Monolithic Power Systems worth $54,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Monolithic Power Systems in the fourth quarter worth $34,000. IFP Advisors Inc lifted its position in Monolithic Power Systems by 171.4% during the third quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company's stock valued at $35,000 after buying an additional 24 shares during the period. Covestor Ltd lifted its position in Monolithic Power Systems by 29.0% during the fourth quarter. Covestor Ltd now owns 40 shares of the semiconductor company's stock valued at $36,000 after buying an additional 9 shares during the period. Greenline Wealth Management LLC bought a new stake in shares of Monolithic Power Systems during the 4th quarter valued at $38,000. Finally, Torren Management LLC purchased a new stake in shares of Monolithic Power Systems in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 93.46% of the company's stock.

Analyst Ratings Changes

MPWR has been the subject of several research reports. KeyCorp increased their price target 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. Weiss Ratings raised shares of Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 12th. Truist Financial set a $1,805.00 price objective on shares of Monolithic Power Systems in a report on Friday, May 1st. TD Cowen raised their target price on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Finally, Stifel Nicolaus lifted their target price on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company a "buy" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Monolithic Power Systems has an average rating of "Moderate Buy" and a consensus price target of $1,657.27.

Insiders Place Their Bets

In related news, Director Jeff Zhou sold 1,014 shares of the firm's stock in a transaction that occurred on 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. The sale was disclosed in a legal filing 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 that occurred on Friday, May 15th. The stock was sold at an average price of $1,561.40, for a total transaction of $18,736,800.00. Following the completion of the transaction, the executive vice president owned 166,644 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 69,370 shares of company stock valued at $112,702,503. 3.60% of the stock is owned by company insiders.

Monolithic Power Systems Price Performance

Shares of NASDAQ:MPWR opened at $1,249.95 on Thursday. Monolithic Power Systems, Inc. has a 1-year low of $706.00 and a 1-year high of $1,714.09. The business has a fifty day moving average price of $1,448.73 and a 200-day moving average price of $1,310.96. The company has a market capitalization of $61.41 billion, a PE ratio of 90.12 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 earned $4.04 EPS. Monolithic Power Systems's quarterly revenue was up 26.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 20.2 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems's payout ratio 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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