Kentucky Retirement Systems Reduces Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Kentucky Retirement Systems decreased its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,396 shares of the semiconductor company’s stock after selling 272 shares during the quarter. Kentucky Retirement Systems’ holdings in Monolithic Power Systems were worth $3,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MPWR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Monolithic Power Systems by 61.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,967 shares of the semiconductor company’s stock valued at $2,010,000 after purchasing an additional 1,124 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Monolithic Power Systems by 62.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,683 shares of the semiconductor company’s stock valued at $1,140,000 after buying an additional 646 shares during the period. Vanguard Group Inc. grew its holdings in shares of Monolithic Power Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock worth $3,739,318,000 after acquiring an additional 55,874 shares during the period. Acadian Asset Management LLC increased its position in Monolithic Power Systems by 224.4% during the first quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company’s stock valued at $1,034,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Cynosure Group LLC bought a new position in Monolithic Power Systems in the first quarter valued at about $342,000. Institutional investors own 93.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MPWR. TD Cowen reduced their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Loop Capital began coverage on Monolithic Power Systems in a research note on Monday, November 11th. They set a “hold” rating and a $660.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $950.00 price objective on shares of Monolithic Power Systems in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Monolithic Power Systems presently has an average rating of “Moderate Buy” and a consensus target price of $916.73.

Insiders Place Their Bets

In other news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the transaction, the chief financial officer now owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the sale, the executive vice president now owns 162,239 shares in the company, valued at $124,135,548.46. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,359 shares of company stock valued at $36,209,571 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Monolithic Power Systems Trading Down 0.6 %

Shares of MPWR stock opened at $573.38 on Friday. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 64.64, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. Monolithic Power Systems, Inc. has a 12-month low of $532.86 and a 12-month high of $959.64. The stock’s 50-day moving average price is $856.47 and its 200-day moving average price is $827.10.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The firm had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. As a group, research analysts predict that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a yield of 0.87%. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 56.37%.

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.