Summit Global Investments Decreases Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Summit Global Investments reduced its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 87.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236 shares of the semiconductor company's stock after selling 1,612 shares during the quarter. Summit Global Investments' holdings in Monolithic Power Systems were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Monolithic Power Systems by 19.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company's stock valued at $37,583,000 after buying an additional 9,125 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Monolithic Power Systems by 237.3% during the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company's stock worth $4,583,000 after acquiring an additional 4,760 shares in the last quarter. Czech National Bank increased its stake 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 worth $7,620,000 after purchasing an additional 824 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Monolithic Power Systems by 224.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company's stock worth $1,034,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Monolithic Power Systems by 22.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,273 shares of the semiconductor company's stock valued at $2,690,000 after purchasing an additional 592 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the completion of the transaction, the chief financial officer now owns 56,678 shares of the company's stock, valued at approximately $43,809,826.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Theodore Blegen sold 2,500 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the completion of the sale, the chief financial officer now directly owns 56,678 shares of the company's stock, valued at $43,809,826.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the executive vice president now owns 20,455 shares in the company, valued at $19,432,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,759 shares of company stock valued at $34,985,340. 3.70% of the stock is owned by corporate insiders.

Monolithic Power Systems Stock Performance

Shares of MPWR traded down $3.21 during mid-day trading on Tuesday, hitting $644.10. The company's stock had a trading volume of 2,558,239 shares, compared to its average volume of 577,082. The stock's 50-day moving average is $881.04 and its two-hundred day moving average is $830.41. The firm has a market capitalization of $31.42 billion, a PE ratio of 72.98, a price-to-earnings-growth ratio of 3.62 and a beta of 1.15. Monolithic Power Systems, Inc. has a one year low of $500.54 and a one year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted 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 firm had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. Analysts expect that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems's payout ratio is 56.37%.

Analysts Set New Price Targets

MPWR has been the subject of several recent analyst reports. KeyCorp raised their target price on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Rosenblatt Securities cut Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. 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 research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $950.00 target price on shares of Monolithic Power Systems in a report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Monolithic Power Systems currently has an average rating of "Moderate Buy" and a consensus price target of $916.73.

Monolithic Power Systems 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.