Legacy Wealth Asset Management LLC Has $434,000 Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Legacy Wealth Asset Management LLC trimmed its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 469 shares of the semiconductor company’s stock after selling 118 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Monolithic Power Systems were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Lake Street Advisors Group LLC acquired a new position in Monolithic Power Systems during the 3rd quarter worth $226,000. Ballentine Partners LLC bought a new stake in shares of Monolithic Power Systems during the third quarter worth $301,000. Dakota Wealth Management lifted its stake in shares of Monolithic Power Systems by 91.3% during the third quarter. Dakota Wealth Management now owns 2,179 shares of the semiconductor company’s stock valued at $2,015,000 after acquiring an additional 1,040 shares during the period. Values First Advisors Inc. boosted its holdings in Monolithic Power Systems by 5.2% in the third quarter. Values First Advisors Inc. now owns 3,712 shares of the semiconductor company’s stock valued at $3,432,000 after acquiring an additional 182 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Monolithic Power Systems by 3.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,165 shares of the semiconductor company’s stock worth $1,077,000 after purchasing an additional 37 shares during the period. 93.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $852.51, for a total transaction of $2,131,275.00. Following the completion of the transaction, the chief financial officer now directly owns 64,906 shares of the company’s stock, valued at $55,333,014.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Monolithic Power Systems 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 sale, the executive vice president now directly owns 202,354 shares of the company’s stock, valued at $157,510,330.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $852.51, for a total value of $2,131,275.00. Following the completion of the transaction, the chief financial officer now owns 64,906 shares of the company’s stock, valued at $55,333,014.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,136 shares of company stock valued at $38,591,228 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MPWR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC raised their price objective on shares of 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 upped their target price 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 price target on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Truist Financial reiterated a “buy” rating and issued a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $959.90.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $901.29 on Friday. The business’s 50-day simple moving average is $904.09 and its 200-day simple moving average is $816.92. Monolithic Power Systems, Inc. has a fifty-two week low of $392.10 and a fifty-two week high of $959.64. The stock has a market capitalization of $43.94 billion, a PE ratio of 107.30, a price-to-earnings-growth ratio of 4.06 and a beta of 1.11.

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

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 59.52%.

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.