Massachusetts Financial Services Co. MA Sells 263,283 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Massachusetts Financial Services Co. MA decreased its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 28.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 678,093 shares of the semiconductor company's stock after selling 263,283 shares during the period. Massachusetts Financial Services Co. MA owned 1.39% of Monolithic Power Systems worth $626,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPWR. The Manufacturers Life Insurance Company increased its position in shares of Monolithic Power Systems by 311.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company's stock worth $153,319,000 after purchasing an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board grew its position 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 valued at $117,826,000 after buying an additional 136,391 shares during the last quarter. International Assets Investment Management LLC grew its stake in Monolithic Power Systems by 92,842.9% during the third quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company's stock worth $114,281,000 after purchasing an additional 123,481 shares during the period. Jennison Associates LLC grew its stake in Monolithic Power Systems by 14,315.6% in the third quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company's stock valued at $94,223,000 after acquiring an additional 101,211 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Monolithic Power Systems by 26.3% in the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company's stock valued at $395,715,000 after purchasing an additional 93,362 shares in the last quarter. Institutional investors own 93.46% of the company's stock.

Monolithic Power Systems Stock Performance

NASDAQ MPWR traded up $8.34 during trading on Friday, reaching $580.81. The company's stock had a trading volume of 1,031,763 shares, compared to its average volume of 606,661. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 2.79 and a beta of 1.15. Monolithic Power Systems, Inc. has a twelve month low of $538.00 and a twelve month high of $959.64. The business's fifty day moving average price is $832.97 and its 200-day moving average price is $822.93.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by ($0.05). The business had revenue of $620.12 million during 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%. As a group, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems's payout ratio is 56.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Rosenblatt Securities cut Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Raymond James upped their target price on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Loop Capital upgraded Monolithic Power Systems from a "hold" rating to a "buy" rating and set a $660.00 target price on the stock in a research note on Monday. 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 report on Wednesday, October 2nd. Finally, Oppenheimer restated an "outperform" rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $840.36.

Insider Activity at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now owns 61,678 shares of the company's stock, valued at $55,769,247.60. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maurice Sciammas sold 11,000 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the transaction, the executive vice president now directly owns 103,829 shares in the company, valued at $96,518,400.11. This represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,359 shares of company stock valued at $26,709,571. Corporate insiders own 3.70% of the company's stock.

About Monolithic Power Systems

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.