OVERSEA CHINESE BANKING Corp Ltd Acquires New Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 241 shares of the semiconductor company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Monolithic Power Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock valued at $3,739,318,000 after purchasing an additional 55,874 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Monolithic Power Systems by 26.3% in the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after buying an additional 93,362 shares during the period. Earnest Partners LLC increased its position in shares of Monolithic Power Systems by 5.2% in the first quarter. Earnest Partners LLC now owns 290,876 shares of the semiconductor company’s stock worth $197,045,000 after acquiring an additional 14,327 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Monolithic Power Systems by 14.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 275,979 shares of the semiconductor company’s stock valued at $226,767,000 after acquiring an additional 34,557 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Monolithic Power Systems by 0.5% in the 2nd quarter. American Century Companies Inc. now owns 235,508 shares of the semiconductor company’s stock valued at $193,513,000 after acquiring an additional 1,262 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 734 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.15, for a total value of $561,620.10. Following the sale, the chief financial officer now directly owns 55,944 shares in the company, valued at $42,805,551.60. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deming Xiao sold 9,259 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the transaction, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at $19,432,250. This represents a 31.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,359 shares of company stock valued at $36,209,571. Insiders own 3.70% of the company’s stock.

Monolithic Power Systems Stock Performance

MPWR opened at $576.79 on Friday. The firm has a market cap of $28.14 billion, a P/E ratio of 64.88, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15. The business has a 50 day moving average price of $866.42 and a 200 day moving average price of $828.49. Monolithic Power Systems, Inc. has a twelve month low of $532.86 and a twelve month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by ($0.05). The firm had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid 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 payout ratio is presently 56.37%.

Wall Street Analysts Forecast Growth

MPWR has been the topic of several research analyst reports. KeyCorp lifted their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Loop Capital began coverage on Monolithic Power Systems in a research report on Monday. They set a “hold” rating and a $660.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their target price on 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $950.00 price target on shares of Monolithic Power Systems in a research report on Tuesday. 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 has a consensus rating of “Moderate Buy” and an average price target of $916.73.

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.