Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by New York State Common Retirement Fund

Posted by Defense World Staff on Apr 14th, 2023

New York State Common Retirement Fund cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Get Rating) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,175 shares of the semiconductor company’s stock after selling 825 shares during the quarter. New York State Common Retirement Fund owned 0.23% of Monolithic Power Systems worth $37,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. purchased a new stake in shares of Monolithic Power Systems in the first quarter valued at approximately $27,000. Guardian Wealth Advisors LLC purchased a new stake in shares of Monolithic Power Systems in the third quarter valued at approximately $27,000. Private Trust Co. NA increased its position in shares of Monolithic Power Systems by 111.1% in the third quarter. Private Trust Co. NA now owns 76 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Monolithic Power Systems in the third quarter valued at approximately $32,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Monolithic Power Systems in the fourth quarter valued at approximately $34,000. 96.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Deming Xiao sold 10,243 shares of the company’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $430.00, for a total value of $4,404,490.00. Following the transaction, the insider now owns 251,677 shares of the company’s stock, valued at approximately $108,221,110. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Hsing sold 3,691 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $446.88, for a total value of $1,649,434.08. Following the transaction, the chief executive officer now owns 977,093 shares of the company’s stock, valued at approximately $436,643,319.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Deming Xiao sold 10,243 shares of the stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $430.00, for a total value of $4,404,490.00. Following the transaction, the insider now directly owns 251,677 shares in the company, valued at approximately $108,221,110. The disclosure for this sale can be found here. Insiders have sold a total of 92,705 shares of company stock valued at $44,122,643 in the last quarter. Insiders own 3.00% of the company’s stock.

Monolithic Power Systems Stock Up 2.4 %

Shares of NASDAQ:MPWR opened at $476.84 on Friday. The business has a fifty day moving average of $489.11 and a two-hundred day moving average of $411.63. The stock has a market cap of $22.56 billion, a P/E ratio of 52.75, a PEG ratio of 1.89 and a beta of 1.13. Monolithic Power Systems, Inc. has a 52-week low of $301.69 and a 52-week high of $541.39.

Monolithic Power Systems (NASDAQ:MPWR – Get Rating) last issued its earnings results on Wednesday, February 8th. The semiconductor company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $460.01 million during the quarter, compared to analysts’ expectations of $459.94 million. Monolithic Power Systems had a return on equity of 30.22% and a net margin of 24.39%. On average, equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.34 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, March 30th. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $0.75. Monolithic Power Systems’s dividend payout ratio is 44.25%.

Analysts Set New Price Targets

A number of research firms have recently commented on MPWR. KeyCorp boosted their price objective on Monolithic Power Systems from $425.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. Oppenheimer boosted their price target on Monolithic Power Systems from $450.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Wells Fargo & Company boosted their price target on Monolithic Power Systems from $515.00 to $525.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com began coverage on Monolithic Power Systems in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $620.00 price target on shares of Monolithic Power Systems in a research report on Thursday, February 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $543.00.

Monolithic Power Systems Company Profile

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Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for computing and storage, automotive, industrial, communications, and consumer applications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.