Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 32.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,182 shares of the semiconductor company's stock after selling 44,745 shares during the period. Victory Capital Management Inc. owned about 0.19% of Monolithic Power Systems worth $53,464,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MPWR. Vanguard Group Inc. raised its holdings in shares of Monolithic Power Systems by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,824,274 shares of the semiconductor company's stock valued at $3,446,223,000 after purchasing an additional 74,046 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Monolithic Power Systems by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,528,301 shares of the semiconductor company's stock valued at $904,297,000 after acquiring an additional 214,395 shares during the period. Geode Capital Management LLC raised its holdings in Monolithic Power Systems by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,365,459 shares of the semiconductor company's stock valued at $807,158,000 after acquiring an additional 31,295 shares during the period. Invesco Ltd. raised its holdings in Monolithic Power Systems by 7.5% in the 4th quarter. Invesco Ltd. now owns 1,162,482 shares of the semiconductor company's stock valued at $687,841,000 after acquiring an additional 81,412 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Monolithic Power Systems by 0.5% during the fourth quarter. Brown Advisory Inc. now owns 986,005 shares of the semiconductor company's stock worth $583,420,000 after purchasing an additional 5,274 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the sale, the director owned 676 shares in the company, valued at $471,848. This trade represents a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Theodore Blegen sold 6,000 shares of Monolithic Power Systems stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total value of $4,500,000.00. Following the completion of the transaction, the chief financial officer owned 46,939 shares of the company's stock, valued at approximately $35,204,250. This represents a 11.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock worth $13,046,800 over the last quarter. Insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

MPWR has been the topic of several analyst reports. TD Cowen increased their price target on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and issued a $720.00 target price (down previously from $925.00) on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Stifel Nicolaus cut their target price on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised their target price on shares of Monolithic Power Systems from $695.00 to $730.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $802.33.

Monolithic Power Systems Stock Down 0.7%

Shares of NASDAQ MPWR traded down $4.79 during trading on Tuesday, reaching $719.98. 551,762 shares of the company traded hands, compared to its average volume of 802,525. The firm has a 50 day simple moving average of $710.46 and a 200-day simple moving average of $643.31. The stock has a market capitalization of $34.47 billion, a PE ratio of 19.11, a P/E/G ratio of 2.88 and a beta of 1.20. Monolithic Power Systems, Inc. has a 52-week low of $438.86 and a 52-week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.00 by $0.04. The firm had revenue of $637.55 million for the quarter, compared to the consensus estimate of $633.43 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The business's quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 EPS. As a group, research analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, June 30th. Monolithic Power Systems's payout ratio is currently 16.56%.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.