Kingsview Wealth Management LLC acquired a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,075 shares of the semiconductor company’s stock, valued at approximately $1,486,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of MPWR. BlackRock Inc. purchased a new position in shares of Monolithic Power Systems during the second quarter valued at approximately $7,727,289,000. State Street Corp increased its position in Monolithic Power Systems by 2.1% during the 4th quarter. State Street Corp now owns 2,180,419 shares of the semiconductor company’s stock valued at $1,979,610,000 after buying an additional 45,715 shares in the last quarter. Corient Private Wealth LLC increased its position in Monolithic Power Systems by 3,719.6% during the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after buying an additional 1,993,576 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Monolithic Power Systems by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,691,394 shares of the semiconductor company’s stock valued at $1,533,013,000 after buying an additional 117,596 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Monolithic Power Systems by 25.9% during the fourth quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock valued at $1,300,345,000 after buying an additional 295,556 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Wall Street Zen raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $1,575.00 price target on shares of Monolithic Power Systems in a research report on Friday, July 31st. Truist Financial upped their price target on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Arete Research set a $2,013.00 price objective on shares of Monolithic Power Systems and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Needham & Company LLC raised their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,731.42.
Monolithic Power Systems Price Performance
Shares of NASDAQ:MPWR opened at $1,256.26 on Friday. The company has a market cap of $61.74 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. The stock’s fifty day moving average price is $1,348.06 and its 200-day moving average price is $1,350.23.
Monolithic Power Systems (NASDAQ:MPWR – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping the consensus estimate of $5.87 by $0.63. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.The company had revenue of $980.64 million during the quarter, compared to the consensus estimate of $903.30 million. During the same period last year, the company earned $4.21 EPS. Monolithic Power Systems’s revenue for the quarter was up 47.6% on a year-over-year basis. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.
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 issued 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 of this dividend was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 49.05%.
Insider Buying and Selling
In other news, Director Kuo Wei Herbert Chang sold 50 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 24th. The shares were 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 $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Maurice Sciammas sold 30 shares of the business’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 transaction of $40,318.20. Following the transaction, the executive vice president directly owned 1,119 shares of the company’s stock, valued at $1,503,868.86. The trade was a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 190 shares of company stock valued at $261,964 over the last quarter. Company insiders own 3.60% 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.
Read More
- Five stocks we like better than Monolithic Power Systems
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report).
Receive News & Ratings for Monolithic Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monolithic Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.
