Westover Capital Advisors LLC Lowers Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Westover Capital Advisors LLC has reduced its holdings in Monolithic Power Systems by 35.0% during the first quarter, now owning 1,513 shares valued at approximately $878,000.
• Multiple institutions, including Wealth Enhancement Advisory Services LLC and DAVENPORT & Co LLC, have increased their positions in Monolithic Power Systems, highlighting a significant institutional ownership of 93.46% in the company.
• Equities research analysts have raised their price targets for Monolithic Power Systems, with KeyCorp increasing it from $820.00 to $940.00 and several analysts maintaining a consensus rating of "Moderate Buy".

Westover Capital Advisors LLC reduced its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,513 shares of the semiconductor company's stock after selling 816 shares during the quarter. Westover Capital Advisors LLC's holdings in Monolithic Power Systems were worth $878,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Monolithic Power Systems by 13.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,719 shares of the semiconductor company's stock valued at $2,157,000 after buying an additional 438 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Monolithic Power Systems during the first quarter worth about $204,000. Praxis Investment Management Inc. bought a new position in shares of Monolithic Power Systems during the first quarter worth about $980,000. Jackson Wealth Management LLC raised its position in shares of Monolithic Power Systems by 29.5% during the first quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company's stock worth $1,680,000 after acquiring an additional 659 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Monolithic Power Systems by 52.6% during the first quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company's stock worth $379,000 after acquiring an additional 225 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MPWR. Citigroup lifted their target price on Monolithic Power Systems from $700.00 to $785.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Rosenblatt Securities reissued a "neutral" rating and issued a $644.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Wells Fargo & Company increased their price target on 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. Loop Capital increased their price target on Monolithic Power Systems from $760.00 to $800.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Oppenheimer reissued an "outperform" rating and issued a $800.00 price target (up from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $805.67.

Monolithic Power Systems Price Performance

NASDAQ MPWR traded down $18.86 during trading on Tuesday, reaching $719.69. The company's stock had a trading volume of 238,349 shares, compared to its average volume of 811,815. The stock has a market capitalization of $34.46 billion, a PE ratio of 19.11, a P/E/G ratio of 2.84 and a beta of 1.20. The firm has a fifty day moving average of $710.58 and a 200 day moving average of $646.93. Monolithic Power Systems, Inc. has a one year low of $438.86 and a one year high of $959.64.

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

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is currently 16.56%.

Insiders Place Their Bets

In other news, Director Kuo Wei Herbert Chang sold 100 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $698.00, for a total value of $69,800.00. Following the completion of the transaction, the director owned 676 shares in the company, valued at $471,848. This trade represents a 12.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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. The trade was a 11.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,200 shares of company stock worth $13,046,800. 3.40% of the stock is currently owned by company insiders.

Monolithic Power Systems Company 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.