Van ECK Associates Corp raised its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 42.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 746,237 shares of the semiconductor company’s stock after acquiring an additional 221,666 shares during the quarter. Monolithic Power Systems accounts for about 0.7% of Van ECK Associates Corp’s investment portfolio, making the stock its 29th largest holding. Van ECK Associates Corp owned approximately 1.52% of Monolithic Power Systems worth $1,031,568,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Royal Fund Management LLC grew its holdings in Monolithic Power Systems by 2.7% during the 1st quarter. Royal Fund Management LLC now owns 264 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 7 shares in the last quarter. Covestor Ltd lifted its holdings in Monolithic Power Systems by 29.0% in the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after buying an additional 9 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in Monolithic Power Systems by 23.7% in the 1st quarter. Bell Investment Advisors Inc now owns 47 shares of the semiconductor company’s stock worth $51,000 after buying an additional 9 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Monolithic Power Systems by 1.4% in the 1st quarter. CENTRAL TRUST Co now owns 701 shares of the semiconductor company’s stock worth $766,000 after buying an additional 10 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its position in Monolithic Power Systems by 2.2% in the 1st quarter. KCM Investment Advisors LLC now owns 467 shares of the semiconductor company’s stock valued at $511,000 after buying an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Analysts Set New Price Targets
MPWR has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company boosted their price target on 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. Zacks Research raised Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 18th. Citigroup restated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,731.42.
Insider Buying and Selling
In other news, Director Kuo Wei Herbert Chang sold 50 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the completion of the sale, the director directly owned 515 shares in the company, valued at approximately $660,008.55. The trade was a 8.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the sale, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 190 shares of company stock worth $261,964. 3.60% of the stock is currently owned by company insiders.
Monolithic Power Systems Stock Performance
MPWR opened at $1,256.26 on Friday. The company has a 50-day moving average of $1,348.06 and a 200-day moving average of $1,350.23. The company has a market capitalization of $61.73 billion, a P/E ratio of 77.02 and a beta of 1.69. Monolithic Power Systems, Inc. has a 1-year low of $800.97 and a 1-year high of $1,714.09.
Monolithic Power Systems (NASDAQ:MPWR – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping the consensus estimate of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to analysts’ expectations of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.21 earnings per share. As a group, sell-side analysts expect that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.
Monolithic Power Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 49.05%.
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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