Migdal Insurance & Financial Holdings Ltd. Sells 236 Shares of Monolithic Power Systems, Inc. $MPWR

Migdal Insurance & Financial Holdings Ltd. cut its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 68.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 108 shares of the semiconductor company’s stock after selling 236 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Monolithic Power Systems were worth $79,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC bought a new stake in shares of Monolithic Power Systems during the first quarter valued at approximately $204,000. Jackson Wealth Management LLC boosted its position in shares of Monolithic Power Systems by 29.5% during the first quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company’s stock valued at $1,680,000 after purchasing an additional 659 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Monolithic Power Systems by 52.6% during the first quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company’s stock valued at $379,000 after buying an additional 225 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in Monolithic Power Systems during the first quarter valued at $405,000. Finally, Novem Group raised its stake in Monolithic Power Systems by 33.6% during the first quarter. Novem Group now owns 1,757 shares of the semiconductor company’s stock valued at $1,019,000 after buying an additional 442 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPWR. Wells Fargo & Company lifted their price objective on Monolithic Power Systems from $750.00 to $970.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Stifel Nicolaus lifted their price objective on Monolithic Power Systems from $930.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Rosenblatt Securities reiterated a “neutral” rating and set a $800.00 price objective on shares of Monolithic Power Systems in a research note on Friday, August 1st. William Blair upgraded Monolithic Power Systems to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Citigroup lifted their price objective on Monolithic Power Systems from $825.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $963.18.

Monolithic Power Systems Price Performance

MPWR stock opened at $1,094.08 on Thursday. The stock has a market capitalization of $52.40 billion, a P/E ratio of 28.49, a P/E/G ratio of 4.05 and a beta of 1.27. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $1,123.38. The business has a fifty day moving average price of $922.85 and a 200-day moving average price of $777.74.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.09. The company had revenue of $664.57 million during the quarter, compared to analysts’ expectations of $648.74 million. Monolithic Power Systems had a return on equity of 19.14% and a net margin of 73.17%.Monolithic Power Systems’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.17 earnings per share. As a group, analysts anticipate 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 Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, September 30th. Monolithic Power Systems’s dividend payout ratio is 16.25%.

Insider Transactions at Monolithic Power Systems

In related news, Director Jeff Zhou sold 193 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $870.00, for a total transaction of $167,910.00. Following the completion of the sale, the director owned 5,611 shares in the company, valued at approximately $4,881,570. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $913.22, for a total value of $2,739,660.00. Following the sale, the chief financial officer owned 37,940 shares of the company’s stock, valued at approximately $34,647,566.80. This trade represents a 7.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,842 shares of company stock worth $72,387,683 in the last three months. 3.40% of the stock is owned by 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.