State of Alaska Department of Revenue Cuts Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

State of Alaska Department of Revenue lessened its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 28.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,004 shares of the semiconductor company’s stock after selling 3,565 shares during the period. State of Alaska Department of Revenue’s holdings in Monolithic Power Systems were worth $8,323,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Monolithic Power Systems by 19.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,480 shares of the semiconductor company’s stock valued at $37,583,000 after acquiring an additional 9,125 shares in the last quarter. Cetera Investment Advisers grew its stake in Monolithic Power Systems by 237.3% during the 1st quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock valued at $4,583,000 after acquiring an additional 4,760 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Monolithic Power Systems by 4.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock valued at $77,970,000 after buying an additional 5,335 shares during the period. Czech National Bank grew its stake in shares of Monolithic Power Systems by 9.8% in the 2nd quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock valued at $7,620,000 after buying an additional 824 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Monolithic Power Systems by 224.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,528 shares of the semiconductor company’s stock valued at $1,034,000 after buying an additional 1,057 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Up 0.1 %

Monolithic Power Systems stock opened at $901.29 on Monday. The firm has a market cap of $43.94 billion, a PE ratio of 107.30, a price-to-earnings-growth ratio of 4.06 and a beta of 1.11. Monolithic Power Systems, Inc. has a 52-week low of $392.10 and a 52-week high of $959.64. The company’s 50 day moving average is $904.09 and its two-hundred day moving average is $817.98.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The business had revenue of $507.40 million for the quarter, compared to analyst estimates of $490.66 million. During the same period last year, the business earned $2.05 EPS. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts anticipate that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.55%. Monolithic Power Systems’s payout ratio is 59.52%.

Wall Street Analyst Weigh In

MPWR has been the subject of several analyst reports. TD Cowen raised shares of Monolithic Power Systems to a “strong-buy” rating in a research note on Monday, September 16th. Stifel Nicolaus increased their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Rosenblatt Securities increased their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a research note on Monday, July 29th. KeyCorp increased their price target on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Buy” and a consensus price target of $959.90.

Insider Activity

In other news, CFO Theodore Blegen sold 728 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the sale, the chief financial officer now directly owns 64,178 shares in the company, valued at approximately $49,955,513.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Maurice Sciammas sold 11,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at $96,518,400.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Theodore Blegen sold 728 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $566,667.92. Following the completion of the transaction, the chief financial officer now directly owns 64,178 shares in the company, valued at $49,955,513.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,136 shares of company stock worth $38,591,228. 3.70% of the stock is currently owned by corporate 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.