Parnassus Investments LLC Sells 7,857 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Parnassus Investments LLC reduced its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 25.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,806 shares of the semiconductor company's stock after selling 7,857 shares during the quarter. Parnassus Investments LLC's holdings in Monolithic Power Systems were worth $21,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Assetmark Inc. grew its stake in shares of Monolithic Power Systems by 6.6% in the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company's stock worth $16,259,000 after acquiring an additional 1,082 shares during the period. Cetera Investment Advisers raised its stake in Monolithic Power Systems by 237.3% during the 1st 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 last quarter. Czech National Bank lifted its holdings in shares of Monolithic Power Systems by 9.8% during the 2nd quarter. Czech National Bank now owns 9,274 shares of the semiconductor company's stock valued at $7,620,000 after buying an additional 824 shares during the period. Mizuho Securities USA LLC boosted 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 buying an additional 41,979 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Monolithic Power Systems by 224.4% in the first quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company's stock worth $1,034,000 after acquiring an additional 1,057 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR traded down $1.97 during mid-day trading on Tuesday, hitting $585.87. 947,646 shares of the company's stock traded hands, compared to its average volume of 597,967. Monolithic Power Systems, Inc. has a 1 year low of $535.39 and a 1 year high of $959.64. The company's 50-day moving average is $851.50 and its two-hundred day moving average is $827.45. The company has a market capitalization of $28.58 billion, a P/E ratio of 66.05, a PEG ratio of 2.73 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts' consensus estimates of $3.04 by ($0.05). The company had revenue of $620.12 million during the quarter, compared to analysts' expectations of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. Equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a yield of 0.85%. Monolithic Power Systems's payout ratio is 56.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MPWR. KeyCorp lowered their price objective on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an "overweight" rating on the stock in a research note on Monday. Oppenheimer restated an "outperform" rating and issued a $900.00 price target on shares of Monolithic Power Systems in a research report on Monday, November 11th. Truist Financial reaffirmed a "buy" rating and issued a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Rosenblatt Securities lowered shares of Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $882.64.

Insider Buying and Selling

In related news, EVP Deming Xiao sold 9,259 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total value of $8,796,050.00. Following the completion of the sale, the executive vice president now owns 20,455 shares in the company, valued at approximately $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the sale, the executive vice president now directly owns 103,829 shares of the company's stock, valued at approximately $96,518,400.11. This trade represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,359 shares of company stock valued at $36,209,571 in the last ninety days. 3.70% of the stock is owned by company 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.