FMR LLC increased its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 11.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,519,376 shares of the semiconductor company's stock after purchasing an additional 361,416 shares during the period. FMR LLC owned approximately 7.21% of Monolithic Power Systems worth $3,253,664,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Monolithic Power Systems by 311.8% in the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company's stock valued at $153,319,000 after purchasing an additional 141,277 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Monolithic Power Systems by 1,947.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company's stock worth $117,826,000 after purchasing an additional 136,391 shares during the period. International Assets Investment Management LLC grew its stake in shares of Monolithic Power Systems by 92,842.9% in the third quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company's stock valued at $114,281,000 after buying an additional 123,481 shares in the last quarter. Jennison Associates LLC increased its holdings in Monolithic Power Systems by 14,315.6% during the 3rd quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company's stock worth $94,223,000 after purchasing an additional 101,211 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company's stock worth $395,715,000 after acquiring an additional 93,362 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.
Monolithic Power Systems Stock Performance
Shares of MPWR traded down $30.26 during trading hours on Tuesday, hitting $570.60. The stock had a trading volume of 981,206 shares, compared to its average volume of 610,823. Monolithic Power Systems, Inc. has a fifty-two week low of $538.00 and a fifty-two week high of $959.64. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 67.74, a PEG ratio of 2.77 and a beta of 1.15. The firm has a 50-day moving average price of $820.61 and a 200 day moving average price of $822.73.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The firm had revenue of $620.12 million during the quarter, compared to analyst estimates of $600.10 million. As a group, analysts predict that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.
Monolithic Power Systems Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems's dividend payout ratio is presently 56.37%.
Insider Activity at Monolithic Power Systems
In related news, CFO Theodore Blegen sold 2,500 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the transaction, the chief financial officer now owns 61,678 shares of the company's stock, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $765.14, for a total value of $662,611.24. Following the sale, the executive vice president now owns 162,239 shares in the company, valued at $124,135,548.46. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,100 shares of company stock worth $17,913,521. Corporate insiders own 3.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on MPWR. Needham & Company LLC dropped their target price on shares of Monolithic Power Systems from $950.00 to $600.00 and set a "buy" rating on the stock in a report on Friday. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a "buy" rating in a report on Friday, August 2nd. KeyCorp lowered their price target on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Monolithic Power Systems has a consensus rating of "Moderate Buy" and a consensus price target of $840.36.
Check Out Our Latest Analysis on MPWR
About Monolithic Power Systems
(
Free Report)
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.
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