California State Teachers Retirement System trimmed its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,363 shares of the semiconductor company’s stock after selling 1,706 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Monolithic Power Systems worth $79,118,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Monolithic Power Systems in the 4th quarter valued at $34,000. IFP Advisors Inc raised its position in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock worth $35,000 after buying an additional 24 shares during the last quarter. Covestor Ltd raised its position in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after buying an additional 9 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Monolithic Power Systems in the 4th quarter worth $38,000. Finally, Torren Management LLC acquired a new stake in shares of Monolithic Power Systems in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Monolithic Power Systems Stock Down 2.5%
Shares of MPWR opened at $1,249.95 on Thursday. The company has a 50-day simple moving average of $1,448.73 and a 200-day simple moving average of $1,310.96. The company has a market capitalization of $61.41 billion, a PE ratio of 90.12 and a beta of 1.71. Monolithic Power Systems, Inc. has a 52-week low of $706.00 and a 52-week high of $1,714.09.
Monolithic Power Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 57.68%.
Wall Street Analyst Weigh In
MPWR has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,800.00 target price on shares of Monolithic Power Systems in a report on Friday, May 1st. Citigroup reaffirmed a “buy” rating on shares of Monolithic Power Systems in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wells Fargo & Company cut their target price on Monolithic Power Systems from $1,860.00 to $1,700.00 and set an “overweight” rating for the company in a research note on Monday, July 20th. Finally, Oppenheimer set a $1,700.00 price target on Monolithic Power Systems in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Monolithic Power Systems currently has an average rating of “Moderate Buy” and an average target price of $1,657.27.
Check Out Our Latest Analysis on MPWR
Insider Activity at Monolithic Power Systems
In other news, EVP Deming Xiao sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,654.55, for a total transaction of $49,636,500.00. Following the sale, the executive vice president owned 205,959 shares of the company’s stock, valued at $340,769,463.45. The trade was a 12.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugen J. Elmiger sold 12,000 shares of the company’s 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 value of $19,019,520.00. Following the completion of the sale, the director owned 5,402 shares in the company, valued at approximately $8,561,953.92. This represents a 68.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 69,370 shares of company stock worth $112,702,503. 3.60% of the stock is currently owned by company insiders.
Monolithic Power Systems 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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