Congress Asset Management Co. MA Has $170.14 Million Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Congress Asset Management Co. MA cut its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,154 shares of the semiconductor company’s stock after selling 4,706 shares during the period. Monolithic Power Systems accounts for about 1.2% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 10th biggest position. Congress Asset Management Co. MA owned approximately 0.52% of Monolithic Power Systems worth $170,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MPWR. PNC Financial Services Group Inc. increased its stake in Monolithic Power Systems by 7.7% in the third quarter. PNC Financial Services Group Inc. now owns 7,286 shares of the semiconductor company’s stock valued at $3,366,000 after purchasing an additional 519 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Monolithic Power Systems in the third quarter valued at approximately $431,000. Envestnet Asset Management Inc. increased its stake in Monolithic Power Systems by 22.8% in the third quarter. Envestnet Asset Management Inc. now owns 167,291 shares of the semiconductor company’s stock valued at $77,288,000 after purchasing an additional 31,041 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Monolithic Power Systems by 312.4% in the third quarter. V Square Quantitative Management LLC now owns 499 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 378 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its stake in Monolithic Power Systems by 106.6% in the third quarter. Dark Forest Capital Management LP now owns 1,665 shares of the semiconductor company’s stock valued at $769,000 after purchasing an additional 859 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR traded up $0.84 during mid-day trading on Friday, reaching $826.17. 994,612 shares of the company’s stock were exchanged, compared to its average volume of 409,857. Monolithic Power Systems, Inc. has a one year low of $392.10 and a one year high of $856.30. The firm has a market capitalization of $40.22 billion, a PE ratio of 98.47, a price-to-earnings-growth ratio of 4.22 and a beta of 1.13. The business’s fifty day simple moving average is $727.31 and its two-hundred day simple moving average is $681.00.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.02. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. The firm had revenue of $457.89 million for the quarter, compared to the consensus estimate of $447.76 million. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 10.12 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.61%. Monolithic Power Systems’s payout ratio is currently 59.59%.

Analyst Ratings Changes

MPWR has been the subject of several recent research reports. KeyCorp increased their target price on shares of Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Oppenheimer increased their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Truist Financial increased their price target on shares of Monolithic Power Systems from $789.00 to $799.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $766.00.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,416 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $731.43, for a total transaction of $1,767,134.88. Following the completion of the transaction, the chief financial officer now owns 72,486 shares in the company, valued at approximately $53,018,434.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Monolithic Power Systems news, CEO Michael Hsing sold 8,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $661.85, for a total transaction of $5,294,800.00. Following the completion of the sale, the chief executive officer now owns 891,232 shares in the company, valued at approximately $589,861,899.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theodore Blegen sold 2,416 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $731.43, for a total transaction of $1,767,134.88. Following the sale, the chief financial officer now owns 72,486 shares of the company’s stock, valued at approximately $53,018,434.98. The disclosure for this sale can be found here. Insiders have sold a total of 46,046 shares of company stock worth $31,842,373 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Monolithic Power Systems Company 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.