Kornitzer Capital Management Inc. KS Sells 940 Shares of Monolithic Power Systems, Inc. $MPWR

Kornitzer Capital Management Inc. KS cut its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,070 shares of the semiconductor company’s stock after selling 940 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Monolithic Power Systems were worth $5,483,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MPWR. WestEnd Advisors LLC grew its holdings in Monolithic Power Systems by 2,000.0% during the 3rd quarter. WestEnd Advisors LLC now owns 21 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in Monolithic Power Systems in the second quarter worth about $35,000. Danske Bank A S bought a new stake in Monolithic Power Systems in the second quarter worth about $36,000. Continuum Advisory LLC purchased a new position in shares of Monolithic Power Systems during the second quarter valued at approximately $43,000. Finally, GK Wealth Management LLC purchased a new position in shares of Monolithic Power Systems during the third quarter valued at approximately $43,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monolithic Power Systems

In other news, Director Kuo Wei Chang sold 50 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the transaction, the director directly owned 515 shares of the company’s stock, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MPWR. Oppenheimer cut their target price on Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. Arete Research initiated coverage on Monolithic Power Systems in a research note on Thursday, August 20th. They set a “buy” rating and a $2,013.00 price target for the company. KeyCorp boosted their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $1,783.77.

Monolithic Power Systems Price Performance

MPWR stock opened at $1,190.44 on Monday. The company has a market capitalization of $58.06 billion, a PE ratio of 65.73 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12 month low of $833.18 and a 12 month high of $1,714.09. The firm’s 50-day moving average is $1,267.39 and its 200 day moving average is $1,315.87.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.79 by $0.40. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter last year, the business posted $4.73 EPS. Sell-side analysts forecast that Monolithic Power Systems, Inc. will post 23.72 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 44.17%.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company’s products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.