Chartwell Investment Partners LLC trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,891 shares of the semiconductor company’s stock after selling 2,178 shares during the period. Chartwell Investment Partners LLC’s holdings in Monolithic Power Systems were worth $4,714,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Monolithic Power Systems in the fourth quarter valued at about $73,489,000. Wellington Management Group LLP raised its holdings in Monolithic Power Systems by 15.2% in the 1st quarter. Wellington Management Group LLP now owns 2,070,255 shares of the semiconductor company’s stock valued at $346,685,000 after acquiring an additional 273,269 shares during the period. Fred Alger Management LLC bought a new position in Monolithic Power Systems in the 1st quarter valued at about $40,469,000. Lord Abbett & CO. LLC lifted its position in Monolithic Power Systems by 52.5% during the first quarter. Lord Abbett & CO. LLC now owns 572,156 shares of the semiconductor company’s stock worth $95,813,000 after acquiring an additional 197,077 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Monolithic Power Systems by 9.2% during the first quarter. Wasatch Advisors Inc. now owns 1,367,953 shares of the semiconductor company’s stock worth $229,077,000 after acquiring an additional 115,564 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.
Several analysts recently weighed in on the company. Raymond James lifted their price target on Monolithic Power Systems from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $300.00 target price (up previously from $270.00) on shares of Monolithic Power Systems in a report on Wednesday. ValuEngine downgraded shares of Monolithic Power Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price objective on shares of Monolithic Power Systems from $268.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank boosted their price objective on shares of Monolithic Power Systems from $255.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $262.22.
In other news, CEO Michael Hsing sold 17,348 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $209.96, for a total value of $3,642,386.08. Following the sale, the chief executive officer now directly owns 1,058,504 shares in the company, valued at approximately $222,243,499.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeff Zhou sold 500 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $198.00, for a total transaction of $99,000.00. Following the sale, the director now directly owns 15,259 shares in the company, valued at $3,021,282. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,681 shares of company stock worth $23,000,455. Company insiders own 3.00% of the company’s stock.
Shares of Monolithic Power Systems stock opened at $265.01 on Friday. Monolithic Power Systems, Inc. has a 12-month low of $130.12 and a 12-month high of $271.94. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 96.37, a PEG ratio of 3.94 and a beta of 1.22. The firm’s 50-day moving average price is $237.36 and its two-hundred day moving average price is $196.03.
Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. The company had revenue of $186.21 million during the quarter, compared to the consensus estimate of $169.79 million. Monolithic Power Systems had a net margin of 18.60% and a return on equity of 15.41%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, research analysts forecast that Monolithic Power Systems, Inc. will post 2.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Monday, June 29th. Monolithic Power Systems’s payout ratio is presently 79.05%.
Monolithic Power Systems Profile
Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.
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