Ameriprise Financial Inc. Reduces Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Ameriprise Financial Inc. decreased its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,463 shares of the semiconductor company's stock after selling 8,735 shares during the period. Ameriprise Financial Inc. owned 0.38% of Monolithic Power Systems worth $109,731,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. raised its position in Monolithic Power Systems by 0.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,200 shares of the semiconductor company's stock worth $1,893,000 after acquiring an additional 14 shares during the period. WP Advisors LLC raised its position in Monolithic Power Systems by 3.2% in the fourth quarter. WP Advisors LLC now owns 522 shares of the semiconductor company's stock worth $309,000 after acquiring an additional 16 shares during the period. Allworth Financial LP raised its position in Monolithic Power Systems by 11.5% in the fourth quarter. Allworth Financial LP now owns 155 shares of the semiconductor company's stock worth $92,000 after acquiring an additional 16 shares during the period. Keybank National Association OH raised its position in Monolithic Power Systems by 1.2% in the fourth quarter. Keybank National Association OH now owns 1,824 shares of the semiconductor company's stock worth $1,079,000 after acquiring an additional 22 shares during the period. Finally, Truvestments Capital LLC raised its position in Monolithic Power Systems by 5.0% in the fourth quarter. Truvestments Capital LLC now owns 462 shares of the semiconductor company's stock worth $273,000 after acquiring an additional 22 shares during the period. Institutional investors own 93.46% of the company's stock.

Insider Activity

In other news, Director Kuo Wei Herbert Chang sold 100 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $650.00, for a total value of $65,000.00. Following the completion of the sale, the director now owns 776 shares of the company's stock, valued at approximately $504,400. This represents a 11.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by corporate insiders.

Monolithic Power Systems Price Performance

MPWR stock traded up $72.10 during midday trading on Monday, reaching $709.87. The company had a trading volume of 865,720 shares, compared to its average volume of 784,451. Monolithic Power Systems, Inc. has a 1 year low of $438.86 and a 1 year high of $959.64. The company has a market capitalization of $33.99 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.60 and a beta of 1.18. The firm has a 50-day moving average price of $572.75 and a 200-day moving average price of $619.85.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MPWR shares. Wells Fargo & Company lowered their price target on shares of Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. KeyCorp lowered their price target on shares of Monolithic Power Systems from $850.00 to $820.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. TD Cowen boosted their price target on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Oppenheimer reissued an "outperform" rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research report on Friday, March 21st. Finally, Citigroup boosted their price target on shares of Monolithic Power Systems from $615.00 to $700.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $779.83.

About Monolithic Power Systems

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.