Meiji Yasuda Asset Management Co Ltd. lowered its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 84.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 588 shares of the semiconductor company’s stock after selling 3,148 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Monolithic Power Systems were worth $533,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 24 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Monolithic Power Systems during the 4th quarter valued at about $34,000. Covestor Ltd boosted its stake in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 9 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Monolithic Power Systems by 542.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 38 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Monolithic Power Systems during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 93.46% of the company’s stock.
Monolithic Power Systems Stock Up 1.8%
Monolithic Power Systems stock opened at $1,589.81 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $643.36 and a 52 week high of $1,675.42. The company’s 50 day moving average price is $1,356.19 and its two-hundred day moving average price is $1,139.44. The stock has a market cap of $78.11 billion, a P/E ratio of 114.62, a P/E/G ratio of 2.84 and a beta of 1.74.
Analysts Set New Price Targets
Several research firms have commented on MPWR. Oppenheimer set a $1,700.00 target price on shares of Monolithic Power Systems in a research report on Friday, May 1st. Rosenblatt Securities lifted their target price on shares of Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and set a $1,800.00 target price on shares of Monolithic Power Systems in a research report on Friday, May 1st. KeyCorp lifted their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Zacks Research cut shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average target price of $1,599.17.
Check Out Our Latest Stock Analysis on MPWR
Insider Buying and Selling
In related news, Director Eileen Wynne sold 335 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $1,582.68, for a total value of $530,197.80. Following the sale, the director owned 1,007 shares of the company’s stock, valued at approximately $1,593,758.76. The trade was a 24.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugen J. Elmiger sold 12,000 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,584.96, for a total transaction of $19,019,520.00. Following the completion of the sale, the director directly owned 5,402 shares in the company, valued at $8,561,953.92. This trade represents a 68.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,992 shares of company stock worth $139,220,810 in the last three months. Insiders own 3.40% of the company’s stock.
Monolithic Power Systems Company Profile
Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.
MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.
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