Retirement Systems of Alabama Buys 32,660 Shares of Monolithic Power Systems, Inc. $MPWR

Retirement Systems of Alabama grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 316.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,980 shares of the semiconductor company’s stock after buying an additional 32,660 shares during the period. Retirement Systems of Alabama’s holdings in Monolithic Power Systems were worth $57,904,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Beverly Hills Private Wealth LLC lifted its holdings in shares of Monolithic Power Systems by 19.1% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 193 shares of the semiconductor company’s stock worth $260,000 after acquiring an additional 31 shares during the last quarter. Paragon Advisors LLC increased its stake in Monolithic Power Systems by 6.4% in the third quarter. Paragon Advisors LLC now owns 3,581 shares of the semiconductor company’s stock valued at $4,824,000 after acquiring an additional 214 shares during the last quarter. M Holdings Securities Inc. bought a new position in Monolithic Power Systems in the third quarter valued at $238,000. Brighton Jones LLC increased its stake in Monolithic Power Systems by 1.9% in the third quarter. Brighton Jones LLC now owns 697 shares of the semiconductor company’s stock valued at $939,000 after acquiring an additional 13 shares during the last quarter. Finally, Candriam S.C.A. raised its position in Monolithic Power Systems by 0.6% during the third quarter. Candriam S.C.A. now owns 55,245 shares of the semiconductor company’s stock valued at $74,699,000 after purchasing an additional 340 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $1,388.05 on Tuesday. Monolithic Power Systems, Inc. has a 52-week low of $833.18 and a 52-week high of $1,714.09. The company has a fifty day moving average of $1,270.03 and a 200-day moving average of $1,317.43. The stock has a market capitalization of $67.70 billion, a price-to-earnings ratio of 76.65 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Thursday, October 29th. The semiconductor company reported $8.19 EPS for the quarter, topping analysts’ consensus estimates of $7.79 by $0.40. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The firm’s revenue was up 63.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.73 EPS. On average, equities research analysts forecast that Monolithic Power Systems, Inc. will post 23.72 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is 44.17%.

Insider Activity

In other news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the transaction, the director owned 515 shares in the company, valued at approximately $660,008.55. The trade was a 8.85% 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. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer dropped their price target on Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Weiss Ratings upgraded Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. KeyCorp raised their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wall Street Zen raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. Finally, Wells Fargo & Company dropped their target price on Monolithic Power Systems from $1,800.00 to $1,550.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $1,783.77.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems.

The company’s products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications.