Congress Asset Management Co. Reduces Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Congress Asset Management Co. trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 40.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,238 shares of the semiconductor company’s stock after selling 99,092 shares during the quarter. Congress Asset Management Co. owned 0.30% of Monolithic Power Systems worth $133,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Monolithic Power Systems by 1.0% during the 1st 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 period. Van ECK Associates Corp boosted its holdings in shares of Monolithic Power Systems by 10.4% in the second quarter. Van ECK Associates Corp now owns 354,461 shares of the semiconductor company’s stock worth $291,254,000 after buying an additional 33,287 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Monolithic Power Systems by 95.1% during the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock worth $206,712,000 after acquiring an additional 148,771 shares during the last quarter. Earnest Partners LLC lifted its position in Monolithic Power Systems by 5.2% during the first quarter. Earnest Partners LLC now owns 290,876 shares of the semiconductor company’s stock valued at $197,045,000 after purchasing an additional 14,327 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Monolithic Power Systems by 14.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 275,979 shares of the semiconductor company’s stock worth $226,767,000 after acquiring an additional 34,557 shares during the period. Institutional investors own 93.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. KeyCorp increased 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 note on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and issued a $880.00 price objective on shares of Monolithic Power Systems in a research report on Tuesday. Raymond James increased their target price on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen reduced their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Buy” and a consensus price target of $942.40.

Monolithic Power Systems Trading Down 17.0 %

Shares of MPWR stock traded down $156.32 on Thursday, reaching $763.49. The company’s stock had a trading volume of 749,523 shares, compared to its average volume of 532,281. The company has a market capitalization of $37.17 billion, a price-to-earnings ratio of 92.15, a price-to-earnings-growth ratio of 4.17 and a beta of 1.11. The stock’s fifty day simple moving average is $903.58 and its 200-day simple moving average is $822.06. Monolithic Power Systems, Inc. has a 1 year low of $409.05 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business had revenue of $620.12 million during the quarter, compared to the consensus estimate of $600.10 million. Equities research analysts forecast that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The business 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. This represents a $5.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is 59.59%.

Insider Activity

In other news, EVP Deming Xiao sold 859 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $668,637.01. Following the transaction, the executive vice president now directly owns 202,354 shares in the company, valued at approximately $157,510,330.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Monolithic Power Systems news, EVP Deming Xiao sold 859 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $668,637.01. Following the sale, the executive vice president now owns 202,354 shares in the company, valued at approximately $157,510,330.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Theodore Blegen sold 728 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the transaction, the chief financial officer now directly owns 64,178 shares of the company’s stock, valued at $49,955,513.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,636 shares of company stock valued at $36,459,953. 3.20% of the stock is currently owned by company insiders.

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.