Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 40.7% during the third quarter, HoldingsChannel reports. The firm owned 144,238 shares of the semiconductor company’s stock after selling 99,092 shares during the period. Congress Asset Management Co.’s holdings in Monolithic Power Systems were worth $133,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPWR. Family Firm Inc. bought a new position in shares of Monolithic Power Systems in the second quarter valued at approximately $25,000. RiverPark Advisors LLC acquired a new position in Monolithic Power Systems during the 1st quarter valued at $27,000. NBC Securities Inc. increased its holdings in 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 purchasing an additional 26 shares in the last quarter. Wolff Wiese Magana LLC raised 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. Finally, Atwood & Palmer Inc. acquired a new stake in Monolithic Power Systems during the 2nd quarter worth $33,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Deming Xiao sold 859 shares of the business’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 $668,637.01. Following the transaction, the executive vice president now directly owns 202,354 shares in the company, valued at approximately $157,510,330.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Theodore Blegen sold 728 shares of Monolithic Power Systems stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the completion of the sale, the chief financial officer now owns 64,178 shares in the company, valued at approximately $49,955,513.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deming Xiao sold 859 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $668,637.01. Following the completion of the sale, the executive vice president now owns 202,354 shares in the company, valued at approximately $157,510,330.06. 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 a total of 39,636 shares of company stock valued at $36,459,953 in the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MPWR shares. Raymond James lifted their target price on Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. KeyCorp lifted their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $880.00 target price on shares of Monolithic Power Systems in a research report on Tuesday. Stifel Nicolaus raised their price target on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, TD Cowen cut their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $942.40.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock traded down $156.32 during midday trading on Thursday, reaching $763.49. The company’s stock had a trading volume of 749,523 shares, compared to its average volume of 532,281. Monolithic Power Systems, Inc. has a 52-week low of $409.05 and a 52-week high of $959.64. The stock has a market capitalization of $37.17 billion, a P/E ratio of 92.15, a PEG ratio of 4.17 and a beta of 1.11. The stock’s 50-day simple moving average is $903.58 and its 200-day simple moving average is $822.06.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The company had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. As a group, equities research analysts expect that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is 59.59%.

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.