Perigon Wealth Management LLC acquired a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 732 shares of the semiconductor company’s stock, valued at approximately $1,011,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Merit Financial Group LLC boosted its stake in shares of Monolithic Power Systems by 183.9% in the fourth quarter. Merit Financial Group LLC now owns 2,757 shares of the semiconductor company’s stock worth $2,499,000 after buying an additional 1,786 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new position in Monolithic Power Systems in the fourth quarter valued at $3,983,000. Mirabaud Asset Management Ltd purchased a new position in shares of Monolithic Power Systems in the 4th quarter valued at about $4,424,000. B. Metzler seel. Sohn & Co. AG increased its position in shares of Monolithic Power Systems by 45.9% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,448 shares of the semiconductor company’s stock valued at $2,219,000 after buying an additional 770 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Monolithic Power Systems by 436.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,182 shares of the semiconductor company’s stock worth $2,884,000 after acquiring an additional 2,589 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.
Monolithic Power Systems Price Performance
NASDAQ MPWR opened at $1,333.18 on Wednesday. The company has a market cap of $65.51 billion, a P/E ratio of 81.74 and a beta of 1.69. The stock has a 50-day moving average of $1,387.64 and a two-hundred day moving average of $1,344.11. Monolithic Power Systems, Inc. has a 1-year low of $800.97 and a 1-year high of $1,714.09.
Monolithic Power Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, June 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems’s payout ratio is presently 49.05%.
Analyst Ratings Changes
Several research firms recently commented on MPWR. TD Cowen increased their price objective on Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Oppenheimer set a $1,700.00 price objective on shares of Monolithic Power Systems in a research report on Friday, May 1st. Wells Fargo & Company lifted their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Needham & Company LLC boosted their target price on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Monolithic Power Systems has a consensus rating of “Moderate Buy” and an average price target of $1,705.82.
Check Out Our Latest Stock Report on Monolithic Power Systems
Insiders Place Their Bets
In other news, Director Jeff Zhou sold 486 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the completion of the sale, the director owned 3,800 shares in the company, valued at approximately $6,384,000. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kuo Wei Herbert Chang sold 50 shares of Monolithic Power Systems stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,420.00, for a total transaction of $71,000.00. Following the completion of the transaction, the director owned 565 shares in the company, valued at approximately $802,300. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,191 shares of company stock valued at $21,807,015. 3.60% of the stock is owned by company insiders.
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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