Flputnam Investment Management Co. Takes $28.21 Million Position in Monolithic Power Systems, Inc. $MPWR

Flputnam Investment Management Co. purchased a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the 2nd quarter, Holdings Channel reports. The fund purchased 20,409 shares of the semiconductor company’s stock, valued at approximately $28,213,000.

Other hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its position in Monolithic Power Systems by 3,719.6% in the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after acquiring an additional 1,993,576 shares in the last quarter. Norges Bank purchased a new stake in Monolithic Power Systems during the 4th quarter valued at $658,656,000. Royal Bank of Canada increased its holdings in shares of Monolithic Power Systems by 168.1% in the 1st quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock worth $517,557,000 after purchasing an additional 296,788 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Monolithic Power Systems by 25.9% in the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock worth $1,300,345,000 after purchasing an additional 295,556 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Monolithic Power Systems in the second quarter worth $402,414,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the transaction, the director owned 3,800 shares in the company, valued at approximately $6,384,000. The trade was a 11.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maurice Sciammas sold 30 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the transaction, the executive vice president directly owned 1,119 shares of the company’s stock, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,191 shares of company stock worth $21,807,015 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday. Weiss Ratings lowered Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $1,575.00 price target on shares of Monolithic Power Systems in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,705.82.

Monolithic Power Systems Stock Performance

Shares of NASDAQ:MPWR opened at $1,402.01 on Monday. The stock has a 50 day moving average of $1,394.48 and a 200 day moving average of $1,340.64. The company has a market cap of $68.89 billion, a PE ratio of 85.96 and a beta of 1.69. Monolithic Power Systems, Inc. has a 12-month low of $800.97 and a 12-month high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to the consensus estimate of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Equities research analysts predict that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 49.05%.

Monolithic Power Systems Company Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.