Bank of New York Mellon Corp Purchases 36,323 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Bank of New York Mellon Corp boosted its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,922 shares of the semiconductor company’s stock after buying an additional 36,323 shares during the period. Bank of New York Mellon Corp’s holdings in Monolithic Power Systems were worth $207,049,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BankPlus Trust Department bought a new position in shares of Monolithic Power Systems in the 4th quarter valued at about $707,000. Impax Asset Management Group plc lifted its stake in shares of Monolithic Power Systems by 26.9% in the 4th quarter. Impax Asset Management Group plc now owns 237,910 shares of the semiconductor company’s stock valued at $139,912,000 after purchasing an additional 50,386 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Monolithic Power Systems in the 4th quarter worth approximately $943,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Monolithic Power Systems by 2.1% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,898 shares of the semiconductor company’s stock valued at $5,857,000 after purchasing an additional 200 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Monolithic Power Systems by 120.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock worth $26,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

MPWR has been the subject of a number of recent analyst reports. 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 boosted their target price on Monolithic Power Systems from $610.00 to $710.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. KeyCorp increased their price target on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Citigroup initiated coverage on Monolithic Power Systems in a report on Wednesday, December 11th. They set a “buy” rating and a $700.00 price objective for the company. Finally, Needham & Company LLC upped their price objective on Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $866.17.

Monolithic Power Systems Price Performance

MPWR stock opened at $609.38 on Friday. Monolithic Power Systems, Inc. has a 1-year low of $546.71 and a 1-year high of $959.64. The business has a 50-day moving average price of $640.19 and a 200 day moving average price of $743.40. The company has a market capitalization of $29.73 billion, a P/E ratio of 16.57, a PEG ratio of 2.60 and a beta of 1.03.

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%. On average, analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 1.02%. The ex-dividend date is Monday, March 31st. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. Monolithic Power Systems’s dividend payout ratio (DPR) is 16.97%.

Insider Activity

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