Monolithic Power Systems, Inc. (NASDAQ:MPWR) Stake Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,644 shares of the semiconductor company’s stock after selling 8,415 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of Monolithic Power Systems worth $24,632,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in Monolithic Power Systems during the second quarter valued at approximately $25,000. NBC Securities Inc. grew its holdings in shares of Monolithic Power Systems by 433.3% during the 3rd quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in shares of Monolithic Power Systems by 3,400.0% in the third quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the first quarter worth $27,000. Finally, Atwood & Palmer Inc. acquired a new stake in Monolithic Power Systems during the second quarter valued at $33,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MPWR. TD Cowen dropped their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James boosted their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC cut their price target on shares of Monolithic Power Systems from $1,000.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday. Finally, KeyCorp upped their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $942.40.

Insiders Place Their Bets

In other news, CFO Theodore Blegen sold 728 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $566,667.92. Following the completion of the transaction, the chief financial officer now directly owns 64,178 shares of the company’s stock, valued at approximately $49,955,513.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Deming Xiao sold 859 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $668,637.01. Following the transaction, the executive vice president now owns 202,354 shares of the company’s stock, valued at $157,510,330.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 728 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $566,667.92. Following the transaction, the chief financial officer now owns 64,178 shares in the company, valued at approximately $49,955,513.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,636 shares of company stock worth $36,459,953 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Monolithic Power Systems Stock Performance

NASDAQ MPWR opened at $759.37 on Monday. The stock has a 50-day simple moving average of $897.06 and a 200 day simple moving average of $824.88. Monolithic Power Systems, Inc. has a twelve month low of $459.69 and a twelve month high of $959.64. The stock has a market capitalization of $37.02 billion, a PE ratio of 85.61, a P/E/G ratio of 3.51 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.05). The company had revenue of $620.12 million for the quarter, compared to analyst estimates of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 10.41 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.66%. Monolithic Power Systems’s payout ratio is 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.