Jennison Associates LLC Buys 101,211 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Jennison Associates LLC grew its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 14,315.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,918 shares of the semiconductor company's stock after purchasing an additional 101,211 shares during the period. Jennison Associates LLC owned approximately 0.21% of Monolithic Power Systems worth $94,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MPWR. Assetmark Inc. boosted its position in Monolithic Power Systems by 6.6% during the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company's stock valued at $16,259,000 after acquiring an additional 1,082 shares in the last quarter. Cetera Investment Advisers lifted its position in Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company's stock valued at $4,583,000 after buying an additional 4,760 shares during the period. Empowered Funds LLC boosted its holdings in shares of Monolithic Power Systems by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company's stock valued at $3,741,000 after buying an additional 909 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Monolithic Power Systems by 1,118.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 45,733 shares of the semiconductor company's stock worth $42,280,000 after acquiring an additional 41,979 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Monolithic Power Systems by 9.8% during the second quarter. Czech National Bank now owns 9,274 shares of the semiconductor company's stock valued at $7,620,000 after purchasing an additional 824 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Activity

In other news, EVP Deming Xiao sold 9,259 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total value of $8,796,050.00. Following the transaction, the executive vice president now owns 20,455 shares of the company's stock, valued at approximately $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the firm'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 directly owns 61,678 shares of the company's stock, valued at $55,769,247.60. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,359 shares of company stock worth $26,709,571 over the last ninety days. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on MPWR shares. Loop Capital raised Monolithic Power Systems from a "hold" rating to a "buy" rating and set a $660.00 target price on the stock in a report on Monday. Truist Financial reissued a "buy" rating and set a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Oppenheimer restated an "outperform" rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Raymond James raised their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems has a consensus rating of "Moderate Buy" and an average price target of $882.64.

Monolithic Power Systems Stock Down 4.4 %

Monolithic Power Systems stock opened at $560.06 on Thursday. The business has a 50-day simple moving average of $846.27 and a two-hundred day simple moving average of $826.59. Monolithic Power Systems, Inc. has a 52-week low of $535.39 and a 52-week high of $959.64. The company has a market cap of $27.32 billion, a P/E ratio of 63.14, a P/E/G ratio of 2.73 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $620.12 million for the quarter, compared to analysts' expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. Research analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a yield of 0.89%. Monolithic Power Systems's dividend payout ratio is presently 56.37%.

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.

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