Moore Capital Management LP acquired a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,250 shares of the semiconductor company’s stock, valued at approximately $8,640,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at about $787,000. Benjamin Edwards Inc. grew its holdings in shares of Monolithic Power Systems by 12.6% during the second quarter. Benjamin Edwards Inc. now owns 9,819 shares of the semiconductor company’s stock worth $13,574,000 after purchasing an additional 1,097 shares in the last quarter. GTS Securities LLC bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $310,000. Flputnam Investment Management Co. bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $28,213,000. Finally, Meiji Yasuda Life Insurance Co raised its stake in Monolithic Power Systems by 60.6% in the second quarter. Meiji Yasuda Life Insurance Co now owns 1,227 shares of the semiconductor company’s stock valued at $1,696,000 after purchasing an additional 463 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.
Monolithic Power Systems Stock Performance
MPWR stock opened at $1,256.26 on Monday. Monolithic Power Systems, Inc. has a fifty-two week low of $800.97 and a fifty-two week high of $1,714.09. The business’s 50 day moving average price is $1,348.06 and its two-hundred day moving average price is $1,351.24. The company has a market capitalization of $61.73 billion, a price-to-earnings ratio of 77.02 and a beta of 1.69.
Monolithic Power Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 49.05%.
Insider Buying and Selling at Monolithic Power Systems
In other news, EVP Maurice Sciammas sold 30 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 1,119 shares in the company, valued at approximately $1,503,868.86. The trade was a 2.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Herbert Chang sold 50 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the transaction, the director owned 515 shares of the company’s stock, valued at approximately $660,008.55. The trade was a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160 shares of company stock valued at $215,945 in the last three months. Insiders own 3.60% of the company’s stock.
Analysts Set New Price Targets
MPWR has been the subject of several research reports. KeyCorp upped their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Arete Research set a $2,013.00 target price on shares of Monolithic Power Systems and gave the stock a “buy” rating in a research note on Thursday, August 20th. Needham & Company LLC boosted their price target on 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. Weiss Ratings upgraded Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,731.42.
Get Our Latest Research Report on MPWR
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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