Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA reduced its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,860 shares of the semiconductor company’s stock after selling 3,735 shares during the period. Monolithic Power Systems makes up approximately 1.3% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 7th biggest holding. Congress Asset Management Co. MA’s holdings in Monolithic Power Systems were worth $161,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Monolithic Power Systems by 2.4% during the third quarter. Vanguard Group Inc. now owns 5,373,477 shares of the semiconductor company’s stock worth $2,482,546,000 after buying an additional 123,946 shares during the period. FMR LLC lifted its position in Monolithic Power Systems by 35.0% during the third quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock valued at $1,655,717,000 after purchasing an additional 929,009 shares during the period. Franklin Resources Inc. lifted its position in Monolithic Power Systems by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,830,569 shares of the semiconductor company’s stock valued at $1,154,686,000 after purchasing an additional 43,191 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Monolithic Power Systems by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,056,183 shares of the semiconductor company’s stock valued at $666,219,000 after purchasing an additional 3,105 shares during the period. Finally, Brown Advisory Inc. lifted its position in Monolithic Power Systems by 4.4% during the fourth quarter. Brown Advisory Inc. now owns 1,028,467 shares of the semiconductor company’s stock valued at $648,736,000 after purchasing an additional 43,225 shares during the period. 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 2,416 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $731.43, for a total transaction of $1,767,134.88. Following the completion of the sale, the chief financial officer now owns 72,486 shares of the company’s stock, valued at $53,018,434.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Theodore Blegen sold 2,416 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $731.43, for a total transaction of $1,767,134.88. Following the completion of the sale, the chief financial officer now owns 72,486 shares of the company’s stock, valued at approximately $53,018,434.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $731.08, for a total transaction of $5,848,640.00. Following the sale, the chief executive officer now directly owns 880,408 shares of the company’s stock, valued at approximately $643,648,680.64. The disclosure for this sale can be found here. Insiders sold 46,046 shares of company stock valued at $31,842,373 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Monolithic Power Systems from $789.00 to $799.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer boosted their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday. KeyCorp boosted their target price on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC restated a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $766.00.

Monolithic Power Systems Trading Down 1.3 %

Shares of Monolithic Power Systems stock traded down $10.43 during trading hours on Friday, reaching $806.57. The stock had a trading volume of 299,808 shares, compared to its average volume of 422,431. The stock’s 50 day moving average is $711.08 and its 200 day moving average is $671.14. The firm has a market capitalization of $39.26 billion, a PE ratio of 96.13, a PEG ratio of 4.22 and a beta of 1.13. Monolithic Power Systems, Inc. has a twelve month low of $392.10 and a twelve month high of $822.48.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $457.89 million during the quarter, compared to analysts’ expectations of $447.76 million. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. As a group, sell-side analysts predict that Monolithic Power Systems, Inc. will post 10.03 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.62%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

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.