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

CIBC Asset Management Inc trimmed its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWRFree Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,474 shares of the semiconductor company’s stock after selling 282 shares during the quarter. CIBC Asset Management Inc’s holdings in Monolithic Power Systems were worth $4,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank boosted its stake in Monolithic Power Systems by 5.6% during the third quarter. Huntington National Bank now owns 657 shares of the semiconductor company’s stock worth $304,000 after buying an additional 35 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Monolithic Power Systems during the 4th quarter valued at about $1,899,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Monolithic Power Systems by 8.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 196,781 shares of the semiconductor company’s stock valued at $90,913,000 after purchasing an additional 15,609 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Monolithic Power Systems by 36.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 47,500 shares of the semiconductor company’s stock worth $21,945,000 after purchasing an additional 12,600 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its stake in Monolithic Power Systems by 3.0% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 53,118 shares of the semiconductor company’s stock worth $33,506,000 after purchasing an additional 1,560 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on MPWR shares. Wells Fargo & Company increased their price objective on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Truist Financial raised their price objective on Monolithic Power Systems from $789.00 to $799.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. TD Cowen upped their target price on shares of Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Needham & Company LLC reiterated a “buy” rating and set a $800.00 price target on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Finally, KeyCorp boosted their price target on shares of Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $743.78.

View Our Latest Analysis on Monolithic Power Systems

Insider Activity

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 200 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $735.00, for a total value of $147,000.00. Following the sale, the director now directly owns 941 shares in the company, valued at $691,635. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Maurice Sciammas sold 11,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $681.83, for a total value of $7,500,130.00. Following the transaction, the executive vice president now directly owns 130,744 shares of the company’s stock, valued at approximately $89,145,181.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kuo Wei Herbert Chang sold 200 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $735.00, for a total transaction of $147,000.00. Following the sale, the director now owns 941 shares in the company, valued at $691,635. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,046 shares of company stock worth $31,842,373. 3.20% of the stock is currently owned by corporate insiders.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR opened at $757.61 on Thursday. The company has a market cap of $36.88 billion, a price-to-earnings ratio of 90.30, a price-to-earnings-growth ratio of 3.75 and a beta of 1.13. The stock’s 50-day moving average is $693.21 and its two-hundred day moving average is $659.31. Monolithic Power Systems, Inc. has a 1-year low of $392.10 and a 1-year high of $778.15.

Monolithic Power Systems (NASDAQ:MPWRGet Free Report) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. The firm had revenue of $457.89 million for the quarter, compared to analysts’ expectations of $447.76 million. Equities research analysts anticipate that Monolithic Power Systems, Inc. will post 10.03 earnings per share for the current fiscal year.

About Monolithic Power Systems

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Monolithic Power Systems (NASDAQ:MPWR)

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