Wealthfront Advisers LLC lowered its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,928 shares of the semiconductor company’s stock after selling 791 shares during the quarter. Wealthfront Advisers LLC’s holdings in Monolithic Power Systems were worth $4,336,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. WPG Advisers LLC acquired a new position in Monolithic Power Systems in the first quarter valued at about $27,000. SouthState Corp bought a new stake in shares of Monolithic Power Systems in the 1st quarter valued at about $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at approximately $36,000. Meeder Asset Management Inc. boosted its stake in Monolithic Power Systems by 146.4% during the 1st quarter. Meeder Asset Management Inc. now owns 69 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 41 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in Monolithic Power Systems by 306.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 65 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors.
Monolithic Power Systems Price Performance
MPWR opened at $1,086.36 on Wednesday. The business’s 50-day moving average price is $917.49 and its two-hundred day moving average price is $773.82. Monolithic Power Systems, Inc. has a 1 year low of $438.86 and a 1 year high of $1,112.06. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 4.12 and a beta of 1.27.
Monolithic Power Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.56 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.6%. Monolithic Power Systems’s dividend payout ratio (DPR) is 16.25%.
Wall Street Analysts Forecast Growth
MPWR has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Monolithic Power Systems from $825.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. William Blair upgraded shares of Monolithic Power Systems to a “strong-buy” rating in a research report on Wednesday, August 13th. KeyCorp lifted their target price on Monolithic Power Systems from $1,050.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Oppenheimer reissued an “outperform” rating and issued a $800.00 target price (up from $700.00) on shares of Monolithic Power Systems in a research note on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Monolithic Power Systems in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems has a consensus rating of “Moderate Buy” and a consensus target price of $963.18.
Read Our Latest Research Report on MPWR
Insider Buying and Selling at Monolithic Power Systems
In other Monolithic Power Systems news, CFO Theodore Blegen sold 3,000 shares of Monolithic Power Systems stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $913.22, for a total value of $2,739,660.00. Following the sale, the chief financial officer directly owned 37,940 shares in the company, valued at approximately $34,647,566.80. The trade was a 7.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Zhou sold 193 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $870.00, for a total transaction of $167,910.00. Following the sale, the director directly owned 5,611 shares in the company, valued at $4,881,570. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 83,842 shares of company stock valued at $72,387,683 over the last ninety days. 3.40% of the stock is currently owned by company insiders.
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.
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