Allstate Corp Buys Shares of 1,427 Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Allstate Corp purchased a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,427 shares of the semiconductor company's stock, valued at approximately $844,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its holdings in shares of Monolithic Power Systems by 0.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,200 shares of the semiconductor company's stock valued at $1,893,000 after buying an additional 14 shares during the last quarter. WP Advisors LLC raised its position in Monolithic Power Systems by 3.2% during the fourth quarter. WP Advisors LLC now owns 522 shares of the semiconductor company's stock worth $309,000 after acquiring an additional 16 shares in the last quarter. Allworth Financial LP lifted its stake in Monolithic Power Systems by 11.5% in the fourth quarter. Allworth Financial LP now owns 155 shares of the semiconductor company's stock valued at $92,000 after acquiring an additional 16 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Monolithic Power Systems by 5.1% in the 3rd quarter. D.A. Davidson & CO. now owns 390 shares of the semiconductor company's stock valued at $361,000 after acquiring an additional 19 shares during the period. Finally, Keybank National Association OH increased its stake in shares of Monolithic Power Systems by 1.2% during the 4th quarter. Keybank National Association OH now owns 1,824 shares of the semiconductor company's stock worth $1,079,000 after purchasing an additional 22 shares during the last quarter. 93.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPWR. Needham & Company LLC raised their target price on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Oppenheimer reaffirmed an "outperform" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research report on Friday, March 21st. Wells Fargo & Company decreased their target price on Monolithic Power Systems from $710.00 to $665.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Rosenblatt Securities cut their price target on Monolithic Power Systems from $800.00 to $750.00 and set a "neutral" rating for the company in a report on Friday, March 21st. Finally, Citigroup assumed coverage on shares of Monolithic Power Systems in a report on Wednesday, December 11th. They issued a "buy" rating and a $700.00 price objective on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $851.58.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR traded down $21.29 during mid-day trading on Friday, reaching $477.39. 1,732,757 shares of the company's stock were exchanged, compared to its average volume of 729,622. Monolithic Power Systems, Inc. has a one year low of $451.29 and a one year high of $959.64. The business's fifty day simple moving average is $625.06 and its two-hundred day simple moving average is $686.54. The firm has a market capitalization of $22.85 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Monolithic Power Systems's previous quarterly dividend of $1.25. The ex-dividend date is Monday, March 31st. Monolithic Power Systems's dividend payout ratio is presently 16.97%.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 7,000 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the completion of the sale, the executive vice president now owns 16,015 shares of the company's stock, valued at $11,242,209.70. This represents a 30.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.