Monolithic Power Systems, Inc. (NASDAQ:MPWR) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,075 shares of the semiconductor company’s stock after acquiring an additional 555 shares during the quarter. CIBC Asset Management Inc’s holdings in Monolithic Power Systems were worth $6,541,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MPWR. The Manufacturers Life Insurance Company boosted its stake in Monolithic Power Systems by 311.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock valued at $153,319,000 after acquiring an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Monolithic Power Systems by 1,947.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock worth $117,826,000 after buying an additional 136,391 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after buying an additional 123,481 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after buying an additional 93,362 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Monolithic Power Systems by 364.2% in the 2nd quarter. National Bank of Canada FI now owns 85,960 shares of the semiconductor company’s stock worth $70,435,000 after buying an additional 67,444 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Trading Down 0.6 %

Monolithic Power Systems stock opened at $573.38 on Monday. Monolithic Power Systems, Inc. has a 52 week low of $532.86 and a 52 week high of $959.64. The company’s 50-day moving average price is $856.47 and its two-hundred day moving average price is $827.10. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of 64.64, a PEG ratio of 2.73 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The business had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. Research analysts expect that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal 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 $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is 56.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MPWR shares. TD Cowen reduced their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $950.00 price target on shares of Monolithic Power Systems in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $900.00 price objective on shares of Monolithic Power Systems in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $916.73.

Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Deming Xiao sold 866 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the transaction, the executive vice president now directly owns 162,239 shares in the company, valued at $124,135,548.46. This trade represents a 0.53 % decrease in their ownership of the stock. 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 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,359 shares of company stock worth $36,209,571 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

About Monolithic Power Systems

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.