Hartford Investment Management Co. Sells 47 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Hartford Investment Management Co. cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,072 shares of the semiconductor company’s stock after selling 47 shares during the period. Hartford Investment Management Co.’s holdings in Monolithic Power Systems were worth $2,840,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPWR. Dynamic Advisor Solutions LLC raised its holdings in Monolithic Power Systems by 3.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 326 shares of the semiconductor company’s stock valued at $268,000 after buying an additional 12 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Monolithic Power Systems by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 888 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 12 shares during the period. Greenleaf Trust raised its stake in shares of Monolithic Power Systems by 1.5% during the third quarter. Greenleaf Trust now owns 979 shares of the semiconductor company’s stock valued at $905,000 after acquiring an additional 14 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Monolithic Power Systems by 2.8% during the second quarter. Valeo Financial Advisors LLC now owns 558 shares of the semiconductor company’s stock worth $458,000 after purchasing an additional 15 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Monolithic Power Systems by 4.7% in the second quarter. EverSource Wealth Advisors LLC now owns 332 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 15 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Monolithic Power Systems

In related news, EVP Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction that occurred 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 sale, the executive vice president now owns 202,354 shares of the company’s stock, valued at approximately $157,510,330.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares in the company, valued at approximately $96,518,400.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,136 shares of company stock valued at $38,591,228 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, August 5th. KeyCorp boosted their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Rosenblatt Securities raised their target price on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $959.90.

Monolithic Power Systems Trading Up 0.8 %

Monolithic Power Systems stock opened at $883.64 on Thursday. Monolithic Power Systems, Inc. has a 12-month low of $392.10 and a 12-month high of $959.64. The firm has a market capitalization of $43.01 billion, a price-to-earnings ratio of 105.32, a P/E/G ratio of 4.33 and a beta of 1.11. The firm has a 50 day moving average of $904.77 and a 200 day moving average of $813.86.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. On average, analysts predict that Monolithic Power Systems, Inc. will post 10.41 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.57%. Monolithic Power Systems’s payout ratio is 59.59%.

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.