Fred Alger Management LLC Has $10.31 Million Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Fred Alger Management LLC boosted its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,393 shares of the semiconductor company’s stock after acquiring an additional 2,241 shares during the quarter. Fred Alger Management LLC’s holdings in Monolithic Power Systems were worth $10,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tradewinds Capital Management LLC lifted its holdings in Monolithic Power Systems by 120.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 24 shares during the period. OFI Invest Asset Management bought a new stake in shares of Monolithic Power Systems in the 4th quarter valued at about $27,000. West Oak Capital LLC increased its holdings in shares of Monolithic Power Systems by 990.9% in the fourth quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 545 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in Monolithic Power Systems by 637.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company’s stock worth $35,000 after buying an additional 51 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in Monolithic Power Systems in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

Shares of MPWR stock opened at $638.67 on Friday. The company has a market cap of $30.58 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.60 and a beta of 1.18. The firm has a fifty day moving average price of $571.75 and a 200-day moving average price of $625.25. Monolithic Power Systems, Inc. has a 1 year low of $438.86 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.04. The business had revenue of $637.55 million during the quarter, compared to the consensus estimate of $633.43 million. Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. The firm’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.81 EPS. Equities research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on MPWR. KeyCorp dropped their target price on shares of Monolithic Power Systems from $850.00 to $820.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reduced their target price on Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Loop Capital lifted their price objective on Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Finally, Raymond James reissued an “outperform” rating and issued a $720.00 price objective (down previously from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $779.83.

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.