Illinois Municipal Retirement Fund Sells 4,579 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Illinois Municipal Retirement Fund lowered its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,686 shares of the semiconductor company’s stock after selling 4,579 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Monolithic Power Systems were worth $13,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Monolithic Power Systems in the second quarter worth about $25,000. RiverPark Advisors LLC bought a new position in Monolithic Power Systems in the 1st quarter valued at $27,000. Atwood & Palmer Inc. purchased a new stake in Monolithic Power Systems in the second quarter worth $33,000. Crewe Advisors LLC increased its stake in Monolithic Power Systems by 126.3% in the second quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 24 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Monolithic Power Systems during the first quarter worth $31,000. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Down 4.2 %

Shares of NASDAQ MPWR traded down $35.18 during trading hours on Friday, hitting $806.31. 804,027 shares of the stock were exchanged, compared to its average volume of 536,910. Monolithic Power Systems, Inc. has a 12 month low of $392.10 and a 12 month high of $959.64. The firm has a fifty day moving average price of $854.54 and a 200-day moving average price of $764.82. The company has a market cap of $39.25 billion, a PE ratio of 96.10, a PEG ratio of 4.32 and a beta of 1.12.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The firm had revenue of $507.40 million during the quarter, compared to analyst estimates of $490.66 million. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

MPWR has been the subject of a number of research analyst reports. Truist Financial lifted their price objective on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James increased their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Rosenblatt Securities lifted their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a research report on Monday, July 29th. TD Cowen increased their price target on Monolithic Power Systems from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Oppenheimer raised their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $912.30.

Insider Buying and Selling at Monolithic Power Systems

In other news, EVP Saria Tseng sold 37,093 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $808.20, for a total transaction of $29,978,562.60. Following the sale, the executive vice president now directly owns 166,428 shares in the company, valued at approximately $134,507,109.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $808.20, for a total transaction of $29,978,562.60. Following the transaction, the executive vice president now directly owns 166,428 shares of the company’s stock, valued at $134,507,109.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Maurice Sciammas sold 10,999 shares of Monolithic Power Systems stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $843.83, for a total transaction of $9,281,286.17. Following the completion of the sale, the executive vice president now owns 118,876 shares in the company, valued at approximately $100,311,135.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,299 shares of company stock valued at $83,140,933. Corporate insiders own 3.20% of the company’s stock.

About Monolithic Power Systems

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.