New York State Common Retirement Fund Reduces Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

New York State Common Retirement Fund lessened its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 8.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,406 shares of the semiconductor company’s stock after selling 2,238 shares during the period. New York State Common Retirement Fund’s holdings in Monolithic Power Systems were worth $14,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after acquiring an additional 361,416 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Monolithic Power Systems by 73.3% during the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock worth $459,174,000 after buying an additional 328,203 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Monolithic Power Systems by 11.2% in the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after buying an additional 133,838 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Monolithic Power Systems by 104.4% during the third quarter. Whale Rock Capital Management LLC now owns 200,490 shares of the semiconductor company’s stock valued at $185,353,000 after buying an additional 102,380 shares during the period. Finally, Jennison Associates LLC boosted its position in Monolithic Power Systems by 14,315.6% during the third quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company’s stock worth $94,223,000 after acquiring an additional 101,211 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Stock Down 4.2 %

Monolithic Power Systems stock opened at $661.08 on Monday. The firm has a fifty day moving average of $637.78 and a 200-day moving average of $746.46. Monolithic Power Systems, Inc. has a 52-week low of $546.71 and a 52-week high of $959.64. The firm has a market capitalization of $32.25 billion, a P/E ratio of 17.98, a PEG ratio of 2.60 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. On average, research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 annualized dividend and a yield of 0.94%. Monolithic Power Systems’s payout ratio is 13.60%.

Insiders Place Their Bets

In related news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the sale, the chief financial officer now owns 53,444 shares of the company’s stock, valued at $32,066,400. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Maurice Sciammas sold 7,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the completion of the transaction, the executive vice president now directly owns 16,015 shares of the company’s stock, valued at approximately $11,242,209.70. The trade was a 30.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MPWR. Rosenblatt Securities reiterated a “neutral” rating and issued a $880.00 price target on shares of Monolithic Power Systems in a report on Thursday, February 6th. TD Cowen reduced their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup started coverage on Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price target for the company. Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Loop Capital boosted their target price on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $866.17.

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.