Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 62.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,011 shares of the semiconductor company’s stock after selling 63,907 shares during the quarter. Jennison Associates LLC’s holdings in Monolithic Power Systems were worth $22,491,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC increased its stake in Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after acquiring an additional 361,416 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Monolithic Power Systems by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after purchasing an additional 133,838 shares during the period. International Assets Investment Management LLC increased its position in Monolithic Power Systems by 92,842.9% during the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after purchasing an additional 123,481 shares in the last quarter. Whale Rock Capital Management LLC increased its position in Monolithic Power Systems by 104.4% during the 3rd quarter. Whale Rock Capital Management LLC now owns 200,490 shares of the semiconductor company’s stock worth $185,353,000 after purchasing an additional 102,380 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Monolithic Power Systems by 26.3% in the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after buying an additional 93,362 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Deming Xiao sold 866 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the transaction, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Theodore Blegen sold 734 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.15, for a total value of $561,620.10. Following the sale, the chief financial officer now directly owns 55,944 shares in the company, valued at approximately $42,805,551.60. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,100 shares of company stock worth $2,724,231. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MPWR has been the subject of several recent research reports. Oppenheimer dropped their price objective on shares of Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. KeyCorp lowered their price target on Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Citigroup initiated coverage on Monolithic Power Systems in a research note on Wednesday, December 11th. They set a “buy” rating and a $700.00 price objective on the stock. Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price for the company in a research note on Monday, November 18th. Finally, Rosenblatt Securities lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $820.33.

Monolithic Power Systems Trading Down 0.4 %

Shares of NASDAQ:MPWR opened at $653.87 on Thursday. The firm’s 50 day moving average is $613.54 and its two-hundred day moving average is $756.52. The firm has a market capitalization of $31.90 billion, a P/E ratio of 73.72, a PEG ratio of 2.44 and a beta of 1.03. Monolithic Power Systems, Inc. has a 52 week low of $546.71 and a 52 week high of $959.64.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, December 31st. Monolithic Power Systems’s payout ratio is currently 56.37%.

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.