Bank of Nova Scotia Sells 34,199 Shares of Monolithic Power Systems, Inc. $MPWR

Bank of Nova Scotia trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 84.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,275 shares of the semiconductor company’s stock after selling 34,199 shares during the quarter. Bank of Nova Scotia’s holdings in Monolithic Power Systems were worth $6,861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Monolithic Power Systems in the 4th quarter worth about $34,000. IFP Advisors Inc increased its holdings in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 24 shares during the period. Covestor Ltd increased its holdings in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 9 shares during the period. Greenline Wealth Management LLC bought a new stake in Monolithic Power Systems during the 4th quarter valued at $38,000. Finally, Torren Management LLC purchased a new stake in shares of Monolithic Power Systems in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Buying and Selling at Monolithic Power Systems

In related news, Director Eugen J. Elmiger sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,584.96, for a total transaction of $19,019,520.00. Following the transaction, the director directly owned 5,402 shares of the company’s stock, valued at $8,561,953.92. This represents a 68.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Saria Tseng sold 7,565 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,700.00, for a total value of $12,860,500.00. Following the completion of the sale, the executive vice president owned 144,218 shares of the company’s stock, valued at approximately $245,170,600. This trade represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 69,370 shares of company stock valued at $112,702,503. Corporate insiders own 3.60% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $1,339.08 on Tuesday. The company has a market capitalization of $65.79 billion, a PE ratio of 96.55 and a beta of 1.71. The company has a 50-day simple moving average of $1,458.52 and a two-hundred day simple moving average of $1,306.64. Monolithic Power Systems, Inc. has a one year low of $706.00 and a one year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.90 by $0.20. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. The business had revenue of $804.19 million for the quarter, compared to analysts’ expectations of $781.93 million. During the same period last year, the business earned $4.04 EPS. The company’s revenue was up 26.1% compared to the same quarter last year. On average, equities analysts predict that Monolithic Power Systems, Inc. will post 20.2 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. Monolithic Power Systems’s dividend payout ratio is presently 57.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MPWR shares. Raymond James Financial restated an “outperform” rating and set a $1,800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 1st. TD Cowen raised their target price on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Stifel Nicolaus boosted their price target on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Truist Financial set a $1,805.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Monolithic Power Systems from $1,860.00 to $1,700.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,657.27.

Monolithic Power Systems Profile

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.