Peapack Gladstone Financial Corp Decreases Stake in Monolithic Power Systems, Inc. $MPWR

Peapack Gladstone Financial Corp lowered its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 19.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,819 shares of the semiconductor company’s stock after selling 686 shares during the period. Peapack Gladstone Financial Corp’s holdings in Monolithic Power Systems were worth $2,555,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Monolithic Power Systems during the 4th quarter worth about $34,000. IFP Advisors Inc lifted its position in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 24 shares in the last quarter. Covestor Ltd lifted its position in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 9 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Monolithic Power Systems by 542.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 38 shares in the last quarter. Finally, Torren Management LLC acquired a new position in Monolithic Power Systems during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Up 5.4%

Shares of MPWR opened at $1,624.99 on Wednesday. The business’s 50 day moving average is $1,420.51 and its two-hundred day moving average is $1,167.22. Monolithic Power Systems, Inc. has a 52-week low of $662.79 and a 52-week high of $1,714.09. The firm has a market cap of $79.84 billion, a price-to-earnings ratio of 117.16, a PEG ratio of 2.76 and a beta of 1.69.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.90 by $0.20. Monolithic Power Systems had a return on equity of 19.58% and a net margin of 22.84%.The company had revenue of $804.19 million for the quarter, compared to analyst estimates of $781.93 million. During the same period in the prior year, the company posted $4.04 EPS. Monolithic Power Systems’s quarterly revenue was up 26.1% on a year-over-year basis. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 20.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MPWR shares. Weiss Ratings lowered Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Oppenheimer set a $1,700.00 price target on Monolithic Power Systems in a research report on Friday, May 1st. KeyCorp boosted their price target on Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Rosenblatt Securities boosted their price target on Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Zacks Research lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,599.17.

Insider Buying and Selling

In other Monolithic Power Systems news, Director Jeff Zhou sold 1,014 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,587.06, for a total value of $1,609,278.84. Following the transaction, the director directly owned 4,786 shares of the company’s stock, valued at $7,595,669.16. This represents a 17.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eugen J. Elmiger sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $1,584.96, for a total value of $19,019,520.00. Following the completion of the transaction, the director directly owned 5,402 shares in the company, valued at approximately $8,561,953.92. The trade was a 68.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,043 shares of company stock worth $160,829,940 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Monolithic Power Systems 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.