Fred Alger Management LLC Has $10.31 Million Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Fred Alger Management LLC raised its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,393 shares of the semiconductor company's stock after buying an additional 2,241 shares during the quarter. Fred Alger Management LLC's holdings in Monolithic Power Systems were worth $10,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MPWR. Norges Bank acquired a new position in shares of Monolithic Power Systems during the 4th quarter worth about $493,807,000. Van ECK Associates Corp lifted its holdings in shares of Monolithic Power Systems by 73.3% during the 4th quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company's stock valued at $459,174,000 after purchasing an additional 328,203 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Monolithic Power Systems during the 4th quarter valued at about $140,795,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Monolithic Power Systems by 16.3% during 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 purchasing an additional 214,395 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Monolithic Power Systems during the 4th quarter valued at about $113,547,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a report on Friday, May 2nd. KeyCorp cut their price objective on Monolithic Power Systems from $850.00 to $820.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Oppenheimer reiterated an "outperform" rating and set a $800.00 price objective on shares of Monolithic Power Systems in a report on Friday, March 21st. Wells Fargo & Company cut their price objective on Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Finally, Raymond James reiterated an "outperform" rating and set a $720.00 price objective (down previously from $925.00) on shares of Monolithic Power Systems in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Monolithic Power Systems currently has an average rating of "Moderate Buy" and an average price target of $779.83.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $650.00, for a total transaction of $65,000.00. Following the transaction, the director now owns 776 shares of the company's stock, valued at $504,400. The trade was a 11.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.70% of the company's stock.

Monolithic Power Systems Stock Performance

NASDAQ MPWR traded down $1.72 during trading on Friday, hitting $638.21. The stock had a trading volume of 639,247 shares, compared to its average volume of 783,924. The company has a market capitalization of $30.56 billion, a PE ratio of 17.36, a P/E/G ratio of 2.60 and a beta of 1.18. The company's 50-day moving average price is $572.75 and its two-hundred day moving average price is $619.85. Monolithic Power Systems, Inc. has a 12 month low of $438.86 and a 12 month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, beating the consensus estimate of $4.00 by $0.04. The firm had revenue of $637.55 million for the quarter, compared to analysts' expectations of $633.43 million. Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. The business's quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 EPS. As a group, equities analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

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.