ICICI Prudential Asset Management Co Ltd Buys Shares of 5,377 Monolithic Power Systems, Inc. (NASDAQ:MPWR)

ICICI Prudential Asset Management Co Ltd bought a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,377 shares of the semiconductor company’s stock, valued at approximately $3,182,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its holdings in Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after acquiring an additional 361,416 shares during the period. State Street Corp lifted its holdings in Monolithic Power Systems by 2.1% in the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after acquiring an additional 42,678 shares during the period. Geode Capital Management LLC lifted its holdings in Monolithic Power Systems by 11.2% in the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after acquiring an additional 133,838 shares during the period. Van ECK Associates Corp lifted its holdings in Monolithic Power Systems by 73.3% in the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after acquiring an additional 328,203 shares during the period. Finally, Barclays PLC raised its stake in shares of Monolithic Power Systems by 5.0% during the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after buying an additional 15,350 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

MPWR opened at $690.77 on Wednesday. The stock has a market capitalization of $33.70 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 2.58 and a beta of 1.03. The business has a 50-day moving average of $631.75 and a two-hundred day moving average of $749.13. Monolithic Power Systems, Inc. has a 12 month low of $546.71 and a 12 month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. Equities research analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.56 dividend. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, March 31st. This represents a $6.24 annualized dividend and a yield of 0.90%. Monolithic Power Systems’s payout ratio is 13.60%.

Insider Buying and Selling at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer now owns 53,444 shares in the company, valued at approximately $32,066,400. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maurice Sciammas sold 7,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $701.98, for a total value of $4,913,860.00. Following the sale, the executive vice president now owns 16,015 shares of the company’s stock, valued at $11,242,209.70. The trade was a 30.41 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MPWR shares. Needham & Company LLC lifted their price target on Monolithic Power Systems from $600.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $880.00 price target on shares of Monolithic Power Systems in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price target on Monolithic Power Systems from $610.00 to $710.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup started coverage on Monolithic Power Systems in a research note on Wednesday, December 11th. They set a “buy” rating and a $700.00 price target for the company. Finally, Loop Capital lifted their price target on Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $866.17.

Monolithic Power Systems Company 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.