State of Tennessee Treasury Department cut its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,035 shares of the semiconductor company’s stock after selling 1,657 shares during the quarter. State of Tennessee Treasury Department owned about 0.05% of Monolithic Power Systems worth $5,459,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in MPWR. Creative Financial Designs Inc. ADV purchased a new position in shares of Monolithic Power Systems in the second quarter valued at $34,000. Flagship Harbor Advisors LLC grew its position in shares of Monolithic Power Systems by 152.3% in the second quarter. Flagship Harbor Advisors LLC now owns 164 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Monolithic Power Systems in the first quarter valued at $56,000. Meeder Asset Management Inc. grew its position in shares of Monolithic Power Systems by 50.5% in the first quarter. Meeder Asset Management Inc. now owns 456 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 153 shares in the last quarter. Finally, CWM LLC grew its position in Monolithic Power Systems by 33.0% during the second quarter. CWM LLC now owns 371 shares of the semiconductor company’s stock worth $88,000 after buying an additional 92 shares in the last quarter. Institutional investors own 93.95% of the company’s stock.
Several research firms recently commented on MPWR. Stifel Nicolaus boosted their target price on Monolithic Power Systems from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Rosenblatt Securities restated a “buy” rating and set a $300.00 target price (up from $270.00) on shares of Monolithic Power Systems in a research report on Wednesday, July 29th. Deutsche Bank lifted their price target on Monolithic Power Systems from $255.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. SunTrust Banks lifted their price target on Monolithic Power Systems from $212.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, BidaskClub raised Monolithic Power Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $265.56.
Shares of MPWR stock opened at $255.81 on Friday. Monolithic Power Systems, Inc. has a 12-month low of $130.12 and a 12-month high of $284.50. The business has a 50-day moving average price of $266.11 and a two-hundred day moving average price of $212.10. The firm has a market cap of $11.82 billion, a P/E ratio of 99.65, a price-to-earnings-growth ratio of 3.68 and a beta of 1.17.
Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. Monolithic Power Systems had a return on equity of 15.41% and a net margin of 18.60%. The company had revenue of $186.21 million during the quarter, compared to analyst estimates of $169.79 million. During the same quarter in the previous year, the company posted $0.92 EPS. Monolithic Power Systems’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
In other Monolithic Power Systems news, Director Jeff Zhou sold 393 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $267.16, for a total transaction of $104,993.88. Following the completion of the transaction, the director now owns 11,369 shares of the company’s stock, valued at approximately $3,037,342.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Hsing sold 16,540 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $241.38, for a total value of $3,992,425.20. Following the transaction, the chief executive officer now directly owns 1,030,196 shares of the company’s stock, valued at approximately $248,668,710.48. The disclosure for this sale can be found here. In the last three months, insiders sold 100,888 shares of company stock valued at $25,970,165. 3.00% of the stock is currently owned by corporate insiders.
Monolithic Power Systems Profile
Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.
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