Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC trimmed its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 4.8% in the third quarter, HoldingsChannel.com reports. The firm owned 93,869 shares of the semiconductor company’s stock after selling 4,734 shares during the quarter. Monolithic Power Systems comprises about 1.5% of Eventide Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Eventide Asset Management LLC’s holdings in Monolithic Power Systems were worth $86,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its position in shares of Monolithic Power Systems by 150.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,211 shares of the semiconductor company’s stock valued at $1,120,000 after buying an additional 727 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Monolithic Power Systems by 9.1% during the third quarter. Captrust Financial Advisors now owns 1,752 shares of the semiconductor company’s stock worth $1,620,000 after purchasing an additional 146 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Monolithic Power Systems by 806.8% during the third quarter. Public Sector Pension Investment Board now owns 17,084 shares of the semiconductor company’s stock worth $15,794,000 after purchasing an additional 15,200 shares in the last quarter. RPg Family Wealth Advisory LLC lifted its holdings in shares of Monolithic Power Systems by 5.4% in the 3rd quarter. RPg Family Wealth Advisory LLC now owns 3,345 shares of the semiconductor company’s stock valued at $3,097,000 after purchasing an additional 172 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its position in shares of Monolithic Power Systems by 265.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,869 shares of the semiconductor company’s stock valued at $1,728,000 after purchasing an additional 1,358 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MPWR. Deutsche Bank Aktiengesellschaft boosted their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a research note on Monday, November 18th. Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. TD Cowen lowered their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $840.36.

Insiders Place Their Bets

In related news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $908.36, for a total value of $2,270,900.00. Following the sale, the chief financial officer now directly owns 59,178 shares in the company, valued at $53,754,928.08. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $662,611.24. Following the transaction, the executive vice president now owns 162,239 shares of the company’s stock, valued at $124,135,548.46. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,100 shares of company stock worth $17,913,521. 3.70% of the stock is owned by company insiders.

Monolithic Power Systems Price Performance

MPWR opened at $560.24 on Friday. Monolithic Power Systems, Inc. has a 12 month low of $538.00 and a 12 month high of $959.64. The stock has a market capitalization of $27.33 billion, a P/E ratio of 63.16, a P/E/G ratio of 2.67 and a beta of 1.15. The business has a 50 day simple moving average of $801.68 and a 200-day simple moving average of $818.17.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $600.10 million. Research analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 0.89%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio 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.