Raymond James Financial Inc. Takes Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Raymond James Financial Inc. bought a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 237,950 shares of the semiconductor company's stock, valued at approximately $140,795,000. Raymond James Financial Inc. owned about 0.49% of Monolithic Power Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPWR. Assetmark Inc. raised its stake in Monolithic Power Systems by 6.6% during the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company's stock valued at $16,259,000 after purchasing an additional 1,082 shares in the last quarter. EULAV Asset Management raised its stake in Monolithic Power Systems by 8.6% during the third quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company's stock valued at $100,099,000 after purchasing an additional 8,600 shares in the last quarter. Paragon Advisors LLC raised its stake in Monolithic Power Systems by 140.6% during the fourth quarter. Paragon Advisors LLC now owns 5,128 shares of the semiconductor company's stock valued at $3,034,000 after purchasing an additional 2,997 shares in the last quarter. Empowered Funds LLC raised its stake in Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company's stock valued at $3,741,000 after purchasing an additional 909 shares in the last quarter. Finally, Perpetual Ltd raised its stake in Monolithic Power Systems by 1,042.4% during the fourth quarter. Perpetual Ltd now owns 2,936 shares of the semiconductor company's stock valued at $1,737,000 after purchasing an additional 2,679 shares in the last quarter. Institutional investors own 93.46% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, EVP Maurice Sciammas sold 7,000 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $701.98, for a total value of $4,913,860.00. Following the completion of the sale, the executive vice president now directly owns 16,015 shares in the company, valued at $11,242,209.70. This trade represents a 30.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer now owns 53,444 shares of the company's stock, valued at $32,066,400. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock traded up $31.09 during midday trading on Friday, hitting $596.79. 774,025 shares of the company's stock were exchanged, compared to its average volume of 902,885. Monolithic Power Systems, Inc. has a 12 month low of $546.71 and a 12 month high of $959.64. The firm has a 50-day moving average of $638.01 and a two-hundred day moving average of $729.07. The company has a market cap of $29.11 billion, a PE ratio of 16.23, a P/E/G ratio of 2.60 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing analysts' consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. As a group, equities analysts expect that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.56 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Monolithic Power Systems's previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a yield of 1.05%. Monolithic Power Systems's dividend payout ratio (DPR) is 16.97%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Monolithic Power Systems in a research note on Wednesday, December 11th. They issued a "buy" rating and a $700.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Monolithic Power Systems from $610.00 to $710.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Needham & Company LLC increased their target price on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Oppenheimer reduced their target price on shares of Monolithic Power Systems from $900.00 to $800.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Finally, KeyCorp increased their target price on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $866.17.

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.