Corebridge Financial Inc. Reduces Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Corebridge Financial Inc. cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 12,889 shares of the semiconductor company’s stock after selling 72 shares during the period. Corebridge Financial Inc.’s holdings in Monolithic Power Systems were worth $7,626,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summit Creek Advisors LLC bought a new stake in shares of Monolithic Power Systems in the 4th quarter worth approximately $230,000. Emerald Advisers LLC boosted its holdings in Monolithic Power Systems by 45.9% in the fourth quarter. Emerald Advisers LLC now owns 1,367 shares of the semiconductor company’s stock valued at $809,000 after acquiring an additional 430 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Monolithic Power Systems by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,824,274 shares of the semiconductor company’s stock valued at $3,446,223,000 after acquiring an additional 74,046 shares in the last quarter. Stevens Capital Management LP increased its position in Monolithic Power Systems by 147.1% during the 4th quarter. Stevens Capital Management LP now owns 887 shares of the semiconductor company’s stock valued at $525,000 after purchasing an additional 528 shares during the period. Finally, LPL Financial LLC raised its holdings in Monolithic Power Systems by 10.4% in the 4th quarter. LPL Financial LLC now owns 108,743 shares of the semiconductor company’s stock worth $64,343,000 after purchasing an additional 10,233 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPWR. Citigroup assumed coverage on shares of Monolithic Power Systems in a research report on Wednesday, December 11th. They set a “buy” rating and a $700.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research note on Friday, March 21st. Loop Capital upped 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. Needham & Company LLC increased their price objective on Monolithic Power Systems from $600.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their target price on shares of Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $851.58.

Insider Buying and Selling at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 7,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the completion of the transaction, the executive vice president now directly owns 16,015 shares of the company’s stock, valued at approximately $11,242,209.70. This represents a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

Monolithic Power Systems Stock Down 3.6 %

NASDAQ MPWR opened at $579.89 on Friday. Monolithic Power Systems, Inc. has a twelve month low of $546.71 and a twelve month high of $959.64. The business has a 50-day moving average price of $637.11 and a 200-day moving average price of $699.67. The firm has a market cap of $27.76 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. Research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS 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. Investors of record on Monday, March 31st will be paid a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 1.08%. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, March 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 16.97%.

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.