Monolithic Power Systems, Inc. $MPWR Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,271 shares of the semiconductor company’s stock after selling 16,898 shares during the period. Congress Asset Management Co. owned 0.23% of Monolithic Power Systems worth $99,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Monolithic Power Systems by 0.3% during the second quarter. Vanguard Group Inc. now owns 5,939,946 shares of the semiconductor company’s stock valued at $4,344,358,000 after buying an additional 19,277 shares during the period. JPMorgan Chase & Co. raised its holdings in Monolithic Power Systems by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock valued at $626,592,000 after acquiring an additional 227,159 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Monolithic Power Systems by 18.0% during the 2nd quarter. Bank of America Corp DE now owns 692,747 shares of the semiconductor company’s stock worth $506,661,000 after purchasing an additional 105,721 shares during the period. Norges Bank acquired a new stake in shares of Monolithic Power Systems during the second quarter worth $438,014,000. Finally, Rafferty Asset Management LLC grew its position in shares of Monolithic Power Systems by 36.1% in the second quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock valued at $386,991,000 after purchasing an additional 140,269 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Monolithic Power Systems Price Performance

NASDAQ MPWR opened at $937.11 on Friday. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $1,123.38. The firm has a market capitalization of $44.90 billion, a P/E ratio of 23.93, a P/E/G ratio of 3.17 and a beta of 1.47. The business’s 50-day simple moving average is $968.42 and its 200-day simple moving average is $859.24.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $4.73 EPS for the quarter, beating the consensus estimate of $4.62 by $0.11. Monolithic Power Systems had a net margin of 71.22% and a return on equity of 18.37%. The firm had revenue of $737.18 million for the quarter, compared to analyst estimates of $720.66 million. During the same quarter last year, the firm posted $4.06 earnings per share. Monolithic Power Systems’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Monolithic Power Systems’s dividend payout ratio is 15.93%.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $908.21, for a total value of $2,724,630.00. Following the transaction, the chief financial officer directly owned 71,332 shares of the company’s stock, valued at $64,784,435.72. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Saria Tseng sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $926.47, for a total value of $18,529,400.00. Following the transaction, the executive vice president owned 187,331 shares in the company, valued at approximately $173,556,551.57. This represents a 9.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,516 shares of company stock valued at $80,331,635 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wolfe Research set a $1,200.00 target price on Monolithic Power Systems and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Weiss Ratings raised shares of Monolithic Power Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Cowen reiterated a “buy” rating on shares of Monolithic Power Systems in a report on Friday, October 31st. KeyCorp boosted their target price on shares of Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Citigroup upped their price target on shares of Monolithic Power Systems from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,074.58.

About Monolithic Power Systems

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.