Monolithic Power Systems, Inc. $MPWR Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 7.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 74,381 shares of the semiconductor company’s stock after selling 6,044 shares during the period. Congress Asset Management Co.’s holdings in Monolithic Power Systems were worth $100,208,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Monolithic Power Systems during the 2nd quarter worth $7,727,289,000. State Street Corp grew its position in shares of Monolithic Power Systems by 4.3% in the second quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock valued at $3,159,219,000 after purchasing an additional 93,732 shares during the period. Corient Private Wealth LLC increased its stake in Monolithic Power Systems by 3,719.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after purchasing an additional 1,993,576 shares during the last quarter. Invesco Ltd. lifted its position in Monolithic Power Systems by 25.9% during the fourth quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock worth $1,300,345,000 after buying an additional 295,556 shares during the period. Finally, Van ECK Associates Corp lifted its position in Monolithic Power Systems by 42.3% during the second quarter. Van ECK Associates Corp now owns 746,237 shares of the semiconductor company’s stock worth $1,031,568,000 after buying an additional 221,666 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Trading Down 0.4%

NASDAQ:MPWR traded down $6.20 on Tuesday, hitting $1,473.69. 374,711 shares of the stock were exchanged, compared to its average volume of 727,078. The stock has a fifty day moving average of $1,305.20 and a 200-day moving average of $1,377.41. The stock has a market cap of $72.42 billion, a PE ratio of 90.36 and a beta of 1.68. Monolithic Power Systems, Inc. has a fifty-two week low of $833.18 and a fifty-two week high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data 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. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.The business had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. During the same period in the previous year, the company posted $4.21 EPS. The company’s revenue was up 47.6% compared to the same quarter last year. As a group, analysts predict that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Monolithic Power Systems’s payout ratio is 49.05%.

Insider Activity at Monolithic Power Systems

In related news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the transaction, the director owned 515 shares in the company, valued at approximately $660,008.55. The trade was a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maurice Sciammas sold 30 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 130 shares of company stock valued at $175,397. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MPWR. Wells Fargo & Company lifted their price target on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Raymond James Financial reissued an “outperform” rating on shares of Monolithic Power Systems in a research report on Wednesday, August 12th. KeyCorp boosted their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Monday. Finally, Zacks Research downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,731.42.

About Monolithic Power Systems

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company’s product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.