Kentucky Retirement Systems Sells 272 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

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

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Assetmark Inc. increased its stake in Monolithic Power Systems by 6.6% in the third quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock valued at $16,259,000 after acquiring an additional 1,082 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after acquiring an additional 4,760 shares in the last quarter. Czech National Bank raised its stake in shares of Monolithic Power Systems by 9.8% during the second quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock worth $7,620,000 after acquiring an additional 824 shares in the last quarter. Acadian Asset Management LLC lifted its holdings 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 worth $1,034,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Monolithic Power Systems by 22.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,273 shares of the semiconductor company’s stock valued at $2,690,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

MPWR has been the subject of several analyst reports. Truist Financial restated a “buy” rating and set a $994.00 price target (up from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft increased 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 started coverage on shares of Monolithic Power Systems in a report on Monday, November 11th. They set a “hold” rating and a $660.00 price target for the company. Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $950.00 price objective on shares of Monolithic Power Systems in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $916.73.

Monolithic Power Systems Stock Down 0.6 %

MPWR opened at $573.38 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $532.86 and a 52 week high of $959.64. The stock has a market cap of $27.97 billion, a PE ratio of 64.64, a PEG ratio of 2.73 and a beta of 1.15. The business has a 50 day moving average of $856.47 and a 200-day moving average of $827.10.

Monolithic Power Systems (NASDAQ:MPWR) last announced 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 for the quarter, compared to the consensus estimate of $600.10 million. Equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given 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 0.87%. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Insider Buying and Selling

In other news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. This represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deming Xiao sold 866 shares of Monolithic Power Systems stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $124,135,548.46. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,359 shares of company stock worth $36,209,571 in the last 90 days. Insiders own 3.70% of the company’s stock.

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.