Peapack Gladstone Financial Corp lowered its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 36.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,155 shares of the semiconductor company's stock after selling 2,342 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Monolithic Power Systems were worth $3,841,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Monolithic Power Systems by 11.4% during the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company's stock worth $3,253,664,000 after acquiring an additional 361,416 shares in the last quarter. State Street Corp increased its stake in Monolithic Power Systems by 2.1% in the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company's stock valued at $1,930,301,000 after purchasing an additional 42,678 shares during the last quarter. Geode Capital Management LLC raised its holdings in Monolithic Power Systems by 11.2% during the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company's stock worth $1,230,626,000 after purchasing an additional 133,838 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Monolithic Power Systems by 26.3% during the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company's stock worth $395,715,000 after buying an additional 93,362 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Monolithic Power Systems by 5.0% in the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company's stock valued at $297,799,000 after buying an additional 15,350 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.
Monolithic Power Systems Stock Performance
NASDAQ:MPWR traded up $2.99 during mid-day trading on Friday, hitting $608.44. 897,035 shares of the company's stock traded hands, compared to its average volume of 623,702. Monolithic Power Systems, Inc. has a 1 year low of $546.71 and a 1 year high of $959.64. The firm's 50 day simple moving average is $730.56 and its 200 day simple moving average is $807.64. The company has a market cap of $29.68 billion, a PE ratio of 68.60, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The firm had revenue of $620.12 million during the quarter, compared to analysts' expectations of $600.10 million. On average, research analysts expect that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.
Monolithic Power Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.82%. Monolithic Power Systems's dividend payout ratio (DPR) is 56.37%.
Insider Activity
In other news, EVP Maurice Sciammas sold 11,000 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares in the company, valued at $96,518,400.11. This trade represents a 9.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer now directly owns 53,444 shares in the company, valued at approximately $32,066,400. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,100 shares of company stock valued at $17,153,021 in the last 90 days. 3.70% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages recently commented on MPWR. Needham & Company LLC cut their price target on shares of Monolithic Power Systems from $950.00 to $600.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Stifel Nicolaus lifted their target price on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. TD Cowen decreased their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Citigroup started coverage on Monolithic Power Systems in a research note on Wednesday. They set a "buy" rating and a $700.00 price target on the stock. Finally, Rosenblatt Securities cut Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $828.67.
Check Out Our Latest Stock Analysis on Monolithic Power Systems
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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