Burney Co. lifted its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 28.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,216 shares of the semiconductor company’s stock after acquiring an additional 270 shares during the quarter. Burney Co.’s holdings in Monolithic Power Systems were worth $889,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Hutchens & Kramer Investment Management Group LLC acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at $223,000. State of Michigan Retirement System boosted its holdings in shares of Monolithic Power Systems by 2.9% during the 2nd quarter. State of Michigan Retirement System now owns 14,170 shares of the semiconductor company’s stock valued at $10,364,000 after acquiring an additional 400 shares in the last quarter. Gilbert & Cook Inc. raised its position in Monolithic Power Systems by 2.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 655 shares of the semiconductor company’s stock worth $479,000 after purchasing an additional 15 shares during the last quarter. Versor Investments LP raised its position in Monolithic Power Systems by 199.9% during the 2nd quarter. Versor Investments LP now owns 2,993 shares of the semiconductor company’s stock worth $2,189,000 after purchasing an additional 1,995 shares during the last quarter. Finally, Hills Bank & Trust Co raised its position in Monolithic Power Systems by 27.9% during the 2nd quarter. Hills Bank & Trust Co now owns 564 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.
Monolithic Power Systems Trading Down 4.6%
MPWR stock opened at $957.87 on Wednesday. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $1,123.38. The firm has a market cap of $45.87 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 4.08 and a beta of 1.27. The stock has a 50-day moving average price of $936.87 and a 200-day moving average price of $793.07.
Monolithic Power Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 30th. Monolithic Power Systems’s payout ratio is presently 15.93%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MPWR. Oppenheimer reaffirmed an “outperform” rating and set a $800.00 target price (up from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday, July 15th. KeyCorp raised their target price on Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Stifel Nicolaus boosted their price target on shares of Monolithic Power Systems from $930.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of Monolithic Power Systems in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Monolithic Power Systems from $750.00 to $970.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Monolithic Power Systems currently has an average rating of “Moderate Buy” and an average target price of $1,047.27.
Get Our Latest Stock Analysis on MPWR
Insider Buying and Selling at Monolithic Power Systems
In other Monolithic Power Systems news, Director Jeff Zhou sold 193 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were 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. The trade was a 3.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carintia Martinez sold 1,400 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $900.00, for a total transaction of $1,260,000.00. Following the sale, the director owned 878 shares of the company’s stock, valued at $790,200. This trade represents a 61.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 43,843 shares of company stock worth $42,011,753. Company insiders own 3.40% of the company’s stock.
Monolithic Power Systems Profile
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.
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