Fred Alger Management LLC Sells 3,028 Shares of Monolithic Power Systems, Inc. $MPWR

Fred Alger Management LLC decreased its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 16.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,174 shares of the semiconductor company’s stock after selling 3,028 shares during the period. Fred Alger Management LLC’s holdings in Monolithic Power Systems were worth $13,993,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MPWR. Penserra Capital Management LLC raised its holdings in shares of Monolithic Power Systems by 88.9% in the 3rd quarter. Penserra Capital Management LLC now owns 2,191 shares of the semiconductor company’s stock worth $2,016,000 after buying an additional 1,031 shares in the last quarter. AE Wealth Management LLC acquired a new stake in Monolithic Power Systems in the 3rd quarter valued at $1,121,000. Candriam S.C.A. boosted its stake in Monolithic Power Systems by 6.9% in the 3rd quarter. Candriam S.C.A. now owns 85,907 shares of the semiconductor company’s stock valued at $79,089,000 after buying an additional 5,561 shares in the last quarter. Vanguard Group Inc. grew its position in Monolithic Power Systems by 2.3% in the third quarter. Vanguard Group Inc. now owns 6,074,033 shares of the semiconductor company’s stock valued at $5,591,998,000 after acquiring an additional 134,087 shares during the period. Finally, First Trust Advisors LP grew its position in Monolithic Power Systems by 66.4% in the third quarter. First Trust Advisors LP now owns 447,801 shares of the semiconductor company’s stock valued at $412,263,000 after acquiring an additional 178,622 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, February 9th. Weiss Ratings lowered shares of Monolithic Power Systems from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Truist Financial increased their target price on shares of Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Needham & Company LLC boosted their price target on shares of Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,218.42.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock opened at $1,077.40 on Tuesday. The firm has a market cap of $52.92 billion, a P/E ratio of 84.57, a P/E/G ratio of 2.67 and a beta of 1.45. The business’s fifty day moving average is $1,102.98 and its two-hundred day moving average is $996.13. Monolithic Power Systems, Inc. has a 52 week low of $438.86 and a 52 week high of $1,256.22.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.05. Monolithic Power Systems had a return on equity of 18.33% and a net margin of 22.07%.The company had revenue of $751.16 million during the quarter, compared to analyst estimates of $741.69 million. During the same period last year, the company posted $4.09 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, March 31st. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.56. Monolithic Power Systems’s dividend payout ratio is 48.98%.

Insider Buying and Selling

In other news, EVP Maurice Sciammas sold 22,875 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $1,171.16, for a total transaction of $26,790,285.00. Following the sale, the executive vice president directly owned 178,625 shares of the company’s stock, valued at $209,198,455. This represents a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Victor K. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $951.72, for a total transaction of $951,720.00. Following the completion of the sale, the director directly owned 28,567 shares of the company’s stock, valued at approximately $27,187,785.24. This represents a 3.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 98,550 shares of company stock valued at $114,256,090. Insiders own 3.40% of the company’s stock.

Monolithic Power Systems Company Profile

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.