Kornitzer Capital Management Inc. KS Sells 1,050 Shares of Monolithic Power Systems, Inc. $MPWR

Kornitzer Capital Management Inc. KS cut its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 20.1% during the 1st quarter, HoldingsChannel reports. The fund owned 4,177 shares of the semiconductor company’s stock after selling 1,050 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Monolithic Power Systems were worth $4,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its stake in Monolithic Power Systems by 2.1% in the fourth quarter. State Street Corp now owns 2,180,419 shares of the semiconductor company’s stock worth $1,979,610,000 after purchasing an additional 45,715 shares during the last quarter. Corient Private Wealth LLC boosted its position in Monolithic Power Systems by 3,719.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after buying an additional 1,993,576 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Monolithic Power Systems by 7.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,691,394 shares of the semiconductor company’s stock valued at $1,533,013,000 after buying an additional 117,596 shares during the last quarter. Invesco Ltd. grew its stake in shares of Monolithic Power Systems by 25.9% during the fourth quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock valued at $1,300,345,000 after buying an additional 295,556 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Monolithic Power Systems by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,382,280 shares of the semiconductor company’s stock worth $1,248,436,000 after buying an additional 44,583 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Stock Down 1.6%

Shares of NASDAQ:MPWR traded down $21.39 during midday trading on Friday, hitting $1,352.74. 577,477 shares of the stock traded hands, compared to its average volume of 1,133,119. The stock has a market capitalization of $66.46 billion, a PE ratio of 97.53, a P/E/G ratio of 2.42 and a beta of 1.71. The business’s 50 day moving average is $1,514.02 and its two-hundred day moving average is $1,272.93. Monolithic Power Systems, Inc. has a one year low of $686.87 and a one year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.90 by $0.20. The company had revenue of $804.19 million during the quarter, compared to analyst estimates of $781.93 million. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. Monolithic Power Systems’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.04 earnings per share. As a group, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 20.13 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems’s dividend payout ratio (DPR) is 57.68%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC boosted their target price on Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Truist Financial set a $1,805.00 price target on Monolithic Power Systems in a research note on Friday, May 1st. KeyCorp boosted their price objective on Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research raised Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 18th. Finally, TD Cowen raised their target price on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has an average rating of “Moderate Buy” and an average target price of $1,599.17.

Insiders Place Their Bets

In other news, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $1,351.61, for a total value of $40,548.30. Following the sale, the executive vice president directly owned 1,149 shares in the company, valued at approximately $1,552,999.89. This trade represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Saria Tseng sold 7,565 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 144,218 shares in the company, valued at $245,170,600. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 69,370 shares of company stock worth $112,702,503. Insiders own 3.60% of the company’s stock.

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.