Wasatch Advisors LP Lowers Holdings in Monolithic Power Systems, Inc. $MPWR

Key Points

• Wasatch Advisors LP cut its Monolithic Power Systems stake by 58% in the second quarter, selling 1,706 shares and retaining 1,236 shares valued at approximately $1.7 million. Institutional investors collectively own 93.46% of the company.
• Monolithic Power Systems reported strong quarterly results, with EPS of $6.50 and revenue of $980.64 million, exceeding analyst estimates and representing 47.6% year-over-year revenue growth.
• Analyst sentiment remains favorable, with an overall “Moderate Buy” rating and several firms raising price targets to between $1,800 and $2,100. However, insiders sold 25,141 shares worth about $40.5 million over the past 90 days.

Wasatch Advisors LP decreased its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 58.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,236 shares of the semiconductor company's stock after selling 1,706 shares during the quarter. Wasatch Advisors LP's holdings in Monolithic Power Systems were worth $1,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Fund Management LLC increased its position in shares of Monolithic Power Systems by 2.7% during the 1st quarter. Royal Fund Management LLC now owns 264 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 7 shares during the last quarter. Covestor Ltd lifted its position in 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 buying an additional 9 shares during the last quarter. Bell Investment Advisors Inc lifted its position in Monolithic Power Systems by 23.7% in the first quarter. Bell Investment Advisors Inc now owns 47 shares of the semiconductor company's stock valued at $51,000 after buying an additional 9 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in Monolithic Power Systems by 4.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 253 shares of the semiconductor company's stock worth $230,000 after buying an additional 10 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Monolithic Power Systems by 1.4% during the first quarter. CENTRAL TRUST Co now owns 701 shares of the semiconductor company's stock worth $766,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 30 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the sale, the executive vice president directly owned 1,119 shares in the company, valued at $1,503,868.86. This represents a 2.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Saria Tseng sold 7,565 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,700.00, for a total transaction of $12,860,500.00. Following the completion of the transaction, the executive vice president directly owned 144,218 shares of the company's stock, valued at $245,170,600. This represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,141 shares of company stock worth $40,472,815 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. KeyCorp lifted their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, Wells Fargo & Company boosted their target price on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Monolithic Power Systems has an average rating of "Moderate Buy" and an average price target of $1,705.82.

Monolithic Power Systems Price Performance

NASDAQ MPWR opened at $1,425.01 on Thursday. The company has a market cap of $70.02 billion, a P/E ratio of 87.37 and a beta of 1.69. The stock has a 50-day moving average of $1,401.86 and a two-hundred day moving average of $1,336.19. Monolithic Power Systems, Inc. has a 1-year low of $800.97 and a 1-year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. During the same period in the prior year, the firm earned $4.21 earnings per share. The business's revenue for the quarter was up 47.6% compared to the same quarter last year. On average, analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems's dividend payout ratio is presently 49.05%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source