Monolithic Power Systems, Inc. $MPWR Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 46.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,367 shares of the semiconductor company’s stock after selling 2,879 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Monolithic Power Systems were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Monolithic Power Systems in the second quarter valued at approximately $438,014,000. JPMorgan Chase & Co. increased its stake in Monolithic Power Systems by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock valued at $626,592,000 after buying an additional 227,159 shares during the period. Rafferty Asset Management LLC raised its position in Monolithic Power Systems by 36.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock worth $386,991,000 after buying an additional 140,269 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Monolithic Power Systems by 87.9% in the 1st quarter. BNP Paribas Financial Markets now owns 284,097 shares of the semiconductor company’s stock worth $164,771,000 after acquiring an additional 132,880 shares during the period. Finally, Nomura Holdings Inc. increased its stake in shares of Monolithic Power Systems by 104.0% during the first quarter. Nomura Holdings Inc. now owns 4,766 shares of the semiconductor company’s stock worth $2,764,000 after acquiring an additional 124,480 shares during the period. 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 Saria Tseng sold 20,000 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $926.47, for a total transaction of $18,529,400.00. Following the completion of the transaction, the executive vice president directly owned 187,331 shares in the company, valued at $173,556,551.57. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Theodore Blegen sold 3,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $913.22, for a total value of $2,739,660.00. Following the sale, the chief financial officer owned 37,940 shares in the company, valued at approximately $34,647,566.80. This trade represents a 7.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,516 shares of company stock valued at $80,331,635 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Monolithic Power Systems from $750.00 to $970.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Wolfe Research set a $1,200.00 target price on Monolithic Power Systems and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. KeyCorp lifted their price target on Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Stifel Nicolaus increased their price objective on Monolithic Power Systems from $930.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Truist Financial raised their target price on Monolithic Power Systems from $1,163.00 to $1,375.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,074.58.

Monolithic Power Systems Stock Up 0.8%

Shares of MPWR stock opened at $937.11 on Friday. The stock has a market cap of $44.90 billion, a P/E ratio of 23.93, a P/E/G ratio of 3.17 and a beta of 1.47. Monolithic Power Systems, Inc. has a fifty-two week low of $438.86 and a fifty-two week high of $1,123.38. The business has a fifty day simple moving average of $968.42 and a 200-day simple moving average of $859.24.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.62 by $0.11. The business had revenue of $737.18 million for the quarter, compared to analyst estimates of $720.66 million. Monolithic Power Systems had a net margin of 71.22% and a return on equity of 18.37%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.06 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $1.56 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.24 annualized dividend and a dividend yield of 0.7%. Monolithic Power Systems’s dividend payout ratio is currently 15.93%.

About Monolithic Power Systems

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.