Texas Permanent School Fund Corp Has $4.67 Million Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Posted by Defense World Staff on Jul 24th, 2023

Texas Permanent School Fund Corp grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 47.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,325 shares of the semiconductor company’s stock after buying an additional 2,994 shares during the period. Texas Permanent School Fund Corp’s holdings in Monolithic Power Systems were worth $4,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MPWR. Price T Rowe Associates Inc. MD lifted its position in shares of Monolithic Power Systems by 109.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,651,445 shares of the semiconductor company’s stock worth $1,291,187,000 after buying an additional 1,907,764 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Monolithic Power Systems by 140,338.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,023,797 shares of the semiconductor company’s stock worth $362,025,000 after buying an additional 1,023,068 shares during the last quarter. Norges Bank acquired a new stake in shares of Monolithic Power Systems in the fourth quarter worth about $150,233,000. Van ECK Associates Corp lifted its position in shares of Monolithic Power Systems by 85.3% in the fourth quarter. Van ECK Associates Corp now owns 537,366 shares of the semiconductor company’s stock worth $190,018,000 after buying an additional 247,425 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Monolithic Power Systems by 41.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 448,962 shares of the semiconductor company’s stock worth $158,757,000 after purchasing an additional 131,328 shares during the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.

Insider Activity

In related news, CEO Michael Hsing sold 11,242 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $463.55, for a total transaction of $5,211,229.10. Following the sale, the chief executive officer now directly owns 1,067,017 shares in the company, valued at approximately $494,615,730.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Theodore Blegen sold 711 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $409.78, for a total transaction of $291,353.58. Following the sale, the chief financial officer now directly owns 132,401 shares in the company, valued at approximately $54,255,281.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Hsing sold 11,242 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $463.55, for a total value of $5,211,229.10. Following the sale, the chief executive officer now owns 1,067,017 shares in the company, valued at $494,615,730.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,088 shares of company stock worth $19,081,728. Company insiders own 3.20% of the company’s stock.

Monolithic Power Systems Trading Up 0.9 %

MPWR stock opened at $533.67 on Monday. Monolithic Power Systems, Inc. has a 1-year low of $301.69 and a 1-year high of $595.98. The firm has a market cap of $25.41 billion, a P/E ratio of 55.30, a P/E/G ratio of 2.28 and a beta of 1.13. The business’s 50 day moving average is $509.14 and its 200-day moving average is $478.14.

Monolithic Power Systems (NASDAQ:MPWR – Get Free Report) last released its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. Monolithic Power Systems had a return on equity of 30.00% and a net margin of 25.06%. The company had revenue of $451.07 million for the quarter, compared to analyst estimates of $450.46 million. Sell-side analysts forecast that Monolithic Power Systems, Inc. will post 9.36 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $1.00 dividend. The ex-dividend date was Thursday, June 29th. This represents a $4.00 annualized dividend and a dividend yield of 0.75%. Monolithic Power Systems’s dividend payout ratio is currently 41.45%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MPWR shares. StockNews.com started coverage on Monolithic Power Systems in a research report on Thursday, May 18th. They set a “hold” rating for the company. Truist Financial cut their price objective on Monolithic Power Systems from $608.00 to $527.00 in a research report on Friday, May 5th. Wells Fargo & Company cut their price objective on Monolithic Power Systems from $525.00 to $510.00 in a research report on Friday, May 5th. Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $540.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Monolithic Power Systems from $505.00 to $475.00 in a research report on Friday, May 5th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.23.

Monolithic Power Systems Profile

(Free Report)

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer 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 portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.