Strs Ohio Reduces Holdings in Monolithic Power Systems, Inc. $MPWR

Strs Ohio cut its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,807 shares of the semiconductor company’s stock after selling 31,599 shares during the period. Strs Ohio owned about 0.16% of Monolithic Power Systems worth $71,632,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at about $438,014,000. JPMorgan Chase & Co. increased its position in Monolithic Power Systems by 36.1% during the second quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock worth $626,592,000 after buying an additional 227,159 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Monolithic Power Systems in the third quarter valued at approximately $197,260,000. Rafferty Asset Management LLC boosted its holdings in shares of Monolithic Power Systems by 36.1% in the second quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock valued at $386,991,000 after acquiring an additional 140,269 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Monolithic Power Systems by 57.5% during the third quarter. Voya Investment Management LLC now owns 359,312 shares of the semiconductor company’s stock worth $330,797,000 after acquiring an additional 131,177 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Monolithic Power Systems from $1,163.00 to $1,375.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Needham & Company LLC lifted their price objective on shares of Monolithic Power Systems from $820.00 to $1,025.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Rosenblatt Securities upped their target price on shares of Monolithic Power Systems from $800.00 to $950.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Citigroup increased their target price on shares of Monolithic Power Systems from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, Stifel Nicolaus boosted their price target on Monolithic Power Systems from $930.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,074.58.

Monolithic Power Systems Price Performance

Shares of NASDAQ:MPWR opened at $1,076.67 on Friday. The business’s 50 day simple moving average is $950.63 and its 200-day simple moving average is $901.40. The firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 3.04 and a beta of 1.45. Monolithic Power Systems, Inc. has a 12 month low of $438.86 and a 12 month high of $1,123.38.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $4.73 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.11. The firm had revenue of $737.18 million during the quarter, compared to the consensus estimate of $720.66 million. Monolithic Power Systems had a return on equity of 18.37% and a net margin of 71.22%.Monolithic Power Systems’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business posted $4.06 EPS. On average, equities analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $1.56 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.24 annualized dividend and a dividend yield of 0.6%. Monolithic Power Systems’s payout ratio is currently 15.93%.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 3,000 shares of Monolithic Power Systems stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $940.47, for a total transaction of $2,821,410.00. Following the completion of the transaction, the chief financial officer owned 68,332 shares in the company, valued at approximately $64,264,196.04. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Saria Tseng sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $926.47, for a total transaction of $18,529,400.00. Following the completion of the sale, the executive vice president owned 187,331 shares in the company, valued at $173,556,551.57. This represents a 9.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,976 shares of company stock worth $63,370,417 in the last 90 days. Insiders own 3.40% of the company’s stock.

Monolithic Power Systems Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC?DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC?DC power solutions.