Perpetual Ltd Trims Stake in Monolithic Power Systems, Inc. $MPWR

Perpetual Ltd lessened its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 64.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,967 shares of the semiconductor company’s stock after selling 3,594 shares during the period. Perpetual Ltd’s holdings in Monolithic Power Systems were worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Monolithic Power Systems by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,939,946 shares of the semiconductor company’s stock valued at $4,344,358,000 after acquiring an additional 19,277 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Monolithic Power Systems by 36.1% in the second quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock valued at $626,592,000 after purchasing an additional 227,159 shares in the last quarter. Bank of America Corp DE lifted its position in Monolithic Power Systems by 18.0% during the second quarter. Bank of America Corp DE now owns 692,747 shares of the semiconductor company’s stock valued at $506,661,000 after purchasing an additional 105,721 shares during the last quarter. Norges Bank bought a new stake in Monolithic Power Systems during the second quarter valued at approximately $438,014,000. Finally, Rafferty Asset Management LLC grew its stake in Monolithic Power Systems by 36.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock worth $386,991,000 after buying an additional 140,269 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MPWR. TD Cowen lifted their price objective on shares of Monolithic Power Systems from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings raised Monolithic Power Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Needham & Company LLC upped their price objective on Monolithic Power Systems from $820.00 to $1,025.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Wolfe Research set a $1,200.00 price objective on Monolithic Power Systems and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, Rosenblatt Securities boosted their target price on Monolithic Power Systems from $800.00 to $950.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,074.58.

Insider Activity

In other news, CFO Theodore Blegen sold 3,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $908.21, for a total transaction of $2,724,630.00. Following the completion of the transaction, the chief financial officer directly owned 71,332 shares of the company’s stock, valued at approximately $64,784,435.72. This represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kuo Wei Herbert Chang sold 100 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $896.97, for a total value of $89,697.00. Following the completion of the sale, the director directly owned 426 shares in the company, valued at $382,109.22. The trade was a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 86,516 shares of company stock valued at $80,331,635. 3.40% of the stock is owned by corporate insiders.

Monolithic Power Systems Trading Up 0.8%

MPWR opened at $937.11 on Friday. Monolithic Power Systems, Inc. has a 12 month low of $438.86 and a 12 month high of $1,123.38. The business’s 50-day moving average price is $968.42 and its 200-day moving average price is $859.24. The company has a market cap of $44.90 billion, a P/E ratio of 23.93, a P/E/G ratio of 3.17 and a beta of 1.47.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.11. Monolithic Power Systems had a return on equity of 18.37% and a net margin of 71.22%.The business had revenue of $737.18 million for the quarter, compared to analyst estimates of $720.66 million. During the same period last year, the company earned $4.06 EPS. Monolithic Power Systems’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, December 31st. Monolithic Power Systems’s dividend payout ratio is currently 15.93%.

About Monolithic Power Systems

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.