Monolithic Power Systems, Inc. (NASDAQ:MPWR) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 32.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 92,182 shares of the semiconductor company’s stock after selling 44,745 shares during the quarter. Victory Capital Management Inc.’s holdings in Monolithic Power Systems were worth $53,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Monolithic Power Systems in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. boosted its position in shares of 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 valued at $35,000 after acquiring an additional 51 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Monolithic Power Systems during the 4th quarter valued at about $41,000. Global Financial Private Client LLC boosted its position in shares of Monolithic Power Systems by 265.0% during the 1st quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 53 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Monolithic Power Systems in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

MPWR has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $800.00 price objective (up from $700.00) on shares of Monolithic Power Systems in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Monolithic Power Systems from $695.00 to $730.00 and gave the company an “equal weight” rating in a research note on Wednesday. Rosenblatt Securities reissued a “neutral” rating and set a $644.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Finally, TD Cowen lifted their price target on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $802.33.

Monolithic Power Systems Trading Up 1.6%

Shares of Monolithic Power Systems stock opened at $725.24 on Friday. The company has a 50 day moving average of $710.15 and a 200-day moving average of $641.90. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $959.64. The company has a market cap of $34.72 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.83 and a beta of 1.20.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The firm had revenue of $637.55 million during the quarter, compared to analysts’ expectations of $633.43 million. During the same period in the prior year, the company posted $2.81 EPS. The company’s revenue was up 39.2% on a year-over-year basis. Research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 16.56%.

Insider Buying and Selling

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 12,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $701.00, for a total value of $8,412,000.00. Following the transaction, the executive vice president directly owned 4,015 shares of the company’s stock, valued at approximately $2,814,515. This trade represents a 74.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kuo Wei Herbert Chang sold 100 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the transaction, the director directly owned 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $13,046,800 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

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.