State Street Corp lifted its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,085,146 shares of the semiconductor company's stock after buying an additional 42,678 shares during the period. State Street Corp owned about 4.27% of Monolithic Power Systems worth $1,930,301,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Monolithic Power Systems by 11.4% in the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company's stock worth $3,253,664,000 after purchasing an additional 361,416 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Monolithic Power Systems by 311.8% during the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company's stock worth $153,319,000 after buying an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Monolithic Power Systems by 1,947.1% during the second quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company's stock worth $117,826,000 after buying an additional 136,391 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company's stock worth $114,281,000 after acquiring an additional 123,481 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Monolithic Power Systems by 14,315.6% during the 3rd quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company's stock worth $94,223,000 after acquiring an additional 101,211 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Monolithic Power Systems
In related news, CFO Theodore Blegen sold 734 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.15, for a total transaction of $561,620.10. Following the sale, the chief financial officer now directly owns 55,944 shares in the company, valued at $42,805,551.60. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Maurice Sciammas sold 11,000 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $96,518,400.11. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,600 shares of company stock worth $15,653,021 in the last quarter. Corporate insiders own 3.70% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MPWR shares. Oppenheimer reissued an "outperform" rating and issued a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. TD Cowen decreased their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. KeyCorp dropped their target price on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Truist Financial reissued a "buy" rating and set a $994.00 price target (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Finally, Loop Capital upgraded shares of Monolithic Power Systems from a "hold" rating to a "buy" rating and set a $660.00 price objective for the company in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $840.36.
View Our Latest Stock Report on MPWR
Monolithic Power Systems Stock Up 3.0 %
Shares of Monolithic Power Systems stock traded up $17.36 during trading on Friday, reaching $589.68. 734,432 shares of the company were exchanged, compared to its average volume of 1,308,833. Monolithic Power Systems, Inc. has a twelve month low of $546.71 and a twelve month high of $959.64. The business has a 50-day moving average price of $761.58 and a 200-day moving average price of $812.33. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 66.48, a P/E/G ratio of 2.77 and a beta of 1.05.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly 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). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. On average, equities research analysts forecast 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. Stockholders of record on Monday, September 30th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems's dividend payout ratio (DPR) is 56.37%.
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.
See Also
Before you consider Monolithic Power Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monolithic Power Systems wasn't on the list.
While Monolithic Power Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
