Congress Asset Management Co. Decreases Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Congress Asset Management Co. cut its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,702 shares of the semiconductor company’s stock after selling 13,536 shares during the period. Congress Asset Management Co. owned 0.27% of Monolithic Power Systems worth $77,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in Monolithic Power Systems by 6.6% during the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock valued at $16,259,000 after purchasing an additional 1,082 shares during the period. EULAV Asset Management raised its position in Monolithic Power Systems by 8.6% during the third quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock valued at $100,099,000 after purchasing an additional 8,600 shares during the period. Paragon Advisors LLC raised its position in Monolithic Power Systems by 140.6% during the fourth quarter. Paragon Advisors LLC now owns 5,128 shares of the semiconductor company’s stock valued at $3,034,000 after purchasing an additional 2,997 shares during the period. Empowered Funds LLC raised its position in Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock valued at $3,741,000 after purchasing an additional 909 shares during the period. Finally, Perpetual Ltd raised its position in Monolithic Power Systems by 1,042.4% during the fourth quarter. Perpetual Ltd now owns 2,936 shares of the semiconductor company’s stock valued at $1,737,000 after purchasing an additional 2,679 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Monolithic Power Systems Stock Down 2.2 %

Shares of NASDAQ:MPWR opened at $684.93 on Friday. Monolithic Power Systems, Inc. has a 52-week low of $546.71 and a 52-week high of $959.64. The stock has a market cap of $33.41 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03. The business’s 50 day moving average is $630.25 and its 200 day moving average is $750.63.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 22.49%. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 13 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. Monolithic Power Systems’s dividend payout ratio (DPR) is 16.97%.

Wall Street Analyst Weigh In

MPWR has been the topic of a number of recent research reports. Rosenblatt Securities restated a “neutral” rating and set a $880.00 price objective on shares of Monolithic Power Systems in a research report on Thursday, February 6th. KeyCorp increased their price target on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Oppenheimer reduced their price target on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Citigroup initiated coverage on Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price target on the stock. Finally, TD Cowen reduced their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $866.17.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the sale, the executive vice president now owns 16,015 shares of the company’s stock, valued at approximately $11,242,209.70. This trade represents a 30.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $600.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Monolithic Power Systems Profile

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.