State of New Jersey Common Pension Fund D Increases Stake in Monolithic Power Systems, Inc. $MPWR

State of New Jersey Common Pension Fund D raised its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,676 shares of the semiconductor company’s stock after acquiring an additional 660 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Monolithic Power Systems were worth $15,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BLB&B Advisors LLC grew its holdings in Monolithic Power Systems by 9.1% in the second quarter. BLB&B Advisors LLC now owns 9,205 shares of the semiconductor company’s stock valued at $6,732,000 after purchasing an additional 768 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Monolithic Power Systems by 88.9% in the 3rd quarter. Penserra Capital Management LLC now owns 2,191 shares of the semiconductor company’s stock worth $2,016,000 after buying an additional 1,031 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Monolithic Power Systems in the 3rd quarter worth about $1,121,000. Candriam S.C.A. grew its stake in Monolithic Power Systems by 6.9% in the 3rd quarter. Candriam S.C.A. now owns 85,907 shares of the semiconductor company’s stock valued at $79,089,000 after acquiring an additional 5,561 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in Monolithic Power Systems during the 3rd quarter valued at about $502,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Activity at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 27,966 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $881.66, for a total value of $24,656,503.56. Following the sale, the executive vice president directly owned 148,306 shares of the company’s stock, valued at approximately $130,755,467.96. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deming Xiao sold 22,875 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $1,171.16, for a total transaction of $26,790,285.00. Following the transaction, the executive vice president directly owned 235,932 shares of the company’s stock, valued at $276,314,121.12. This trade represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,726 shares of company stock valued at $170,024,209. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Monolithic Power Systems from $1,200.00 to $1,350.00 and gave the company an “overweight” rating in a report on Friday, February 6th. KeyCorp upped their target price on Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Oppenheimer reiterated an “outperform” rating and set a $1,300.00 target price on shares of Monolithic Power Systems in a report on Thursday, January 29th. Needham & Company LLC boosted their price target on Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Truist Financial increased their price objective on Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Monolithic Power Systems presently has an average rating of “Buy” and an average target price of $1,218.42.

Monolithic Power Systems Stock Performance

Shares of MPWR opened at $1,171.47 on Tuesday. Monolithic Power Systems, Inc. has a fifty-two week low of $438.86 and a fifty-two week high of $1,250.00. The company has a market capitalization of $56.13 billion, a PE ratio of 91.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.45. The stock has a fifty day moving average of $1,030.56 and a two-hundred day moving average of $954.81.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.05. Monolithic Power Systems had a return on equity of 18.09% and a net margin of 22.07%.The business had revenue of $751.16 million during the quarter, compared to the consensus estimate of $741.69 million. During the same quarter in the previous year, the business earned $4.09 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.56. Monolithic Power Systems’s dividend payout ratio is currently 48.98%.

Monolithic Power Systems Company 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.