Blueshift Asset Management LLC Invests $429,000 in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Blueshift Asset Management LLC purchased a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the third quarter, HoldingsChannel reports. The firm purchased 464 shares of the semiconductor company’s stock, valued at approximately $429,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Monolithic Power Systems by 11.4% during the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock worth $3,253,664,000 after purchasing an additional 361,416 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Monolithic Power Systems by 311.8% in the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock valued at $153,319,000 after buying an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Monolithic Power Systems by 1,947.1% in the second quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock valued at $117,826,000 after buying an additional 136,391 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Monolithic Power Systems by 92,842.9% during the third quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after acquiring an additional 123,481 shares during the period. Finally, Jennison Associates LLC raised its position in Monolithic Power Systems by 14,315.6% in the third quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company’s stock worth $94,223,000 after acquiring an additional 101,211 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Monolithic Power Systems Stock Down 2.1 %

Shares of NASDAQ:MPWR opened at $560.24 on Friday. The company has a market capitalization of $27.33 billion, a P/E ratio of 63.16, a P/E/G ratio of 2.86 and a beta of 1.15. Monolithic Power Systems, Inc. has a 52-week low of $538.00 and a 52-week high of $959.64. The stock’s fifty day simple moving average is $801.68 and its 200-day simple moving average is $818.17.

Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The firm had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 annualized dividend and a yield of 0.89%. Monolithic Power Systems’s payout ratio is currently 56.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPWR. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Raymond James increased their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a research note on Monday, November 11th. TD Cowen dropped their price objective on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC decreased their target price on Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $840.36.

Insider Buying and Selling at Monolithic Power Systems

In related news, EVP Deming Xiao sold 866 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the sale, the executive vice president now directly owns 162,239 shares in the company, valued at approximately $124,135,548.46. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the transaction, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at $55,769,247.60. This trade represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,100 shares of company stock worth $17,913,521. Insiders own 3.70% of the company’s stock.

About Monolithic Power Systems

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.