Vestcor Inc Has $554,000 Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Vestcor Inc grew its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 937 shares of the semiconductor company’s stock after buying an additional 28 shares during the quarter. Vestcor Inc’s holdings in Monolithic Power Systems were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its stake in shares of Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after buying an additional 361,416 shares in the last quarter. State Street Corp increased its stake in shares of Monolithic Power Systems by 2.1% in the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after buying an additional 42,678 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Monolithic Power Systems by 11.2% in the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after buying an additional 133,838 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Monolithic Power Systems by 73.3% in the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after buying an additional 328,203 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Monolithic Power Systems by 11.6% in the fourth quarter. Bank of New York Mellon Corp now owns 349,922 shares of the semiconductor company’s stock valued at $207,049,000 after buying an additional 36,323 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MPWR has been the topic of several recent research reports. Oppenheimer decreased their price target on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Loop Capital lifted their price objective on Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup assumed coverage on Monolithic Power Systems in a report on Wednesday, December 11th. They set a “buy” rating and a $700.00 price objective on the stock. KeyCorp lifted their price objective on Monolithic Power Systems from $700.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $880.00 price objective on shares of Monolithic Power Systems in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $866.17.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the transaction, the executive vice president now owns 16,015 shares of the company’s stock, valued at $11,242,209.70. The trade was a 30.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.70% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $606.06 on Monday. The business’s 50 day simple moving average is $636.23 and its 200 day simple moving average is $715.42. Monolithic Power Systems, Inc. has a 52-week low of $546.71 and a 52-week high of $959.64. The firm has a market cap of $29.01 billion, a PE ratio of 16.48, a P/E/G ratio of 2.60 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. As a group, equities research analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.56 per share. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, March 31st. This represents a $6.24 annualized dividend and a dividend yield of 1.03%. Monolithic Power Systems’s payout ratio is 16.97%.

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.