Allstate Corp Makes New $844,000 Investment in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Allstate Corp purchased a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,427 shares of the semiconductor company’s stock, valued at approximately $844,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DnB Asset Management AS grew its stake in Monolithic Power Systems by 185.4% in the 4th quarter. DnB Asset Management AS now owns 22,432 shares of the semiconductor company’s stock worth $13,273,000 after buying an additional 14,571 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in shares of Monolithic Power Systems by 8.2% during the 4th quarter. Level Four Advisory Services LLC now owns 8,509 shares of the semiconductor company’s stock worth $5,035,000 after acquiring an additional 646 shares during the last quarter. Norges Bank purchased a new position in Monolithic Power Systems in the fourth quarter worth $493,807,000. Blair William & Co. IL increased its stake in Monolithic Power Systems by 18.3% in the fourth quarter. Blair William & Co. IL now owns 11,358 shares of the semiconductor company’s stock valued at $6,721,000 after acquiring an additional 1,759 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Monolithic Power Systems by 17.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 10,842 shares of the semiconductor company’s stock valued at $6,415,000 after purchasing an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MPWR shares. Wells Fargo & Company cut their price objective on Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. KeyCorp upped their target price on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Loop Capital lifted their price target on shares of Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Rosenblatt Securities cut their price objective on shares of Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Needham & Company LLC lifted their target price on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $851.58.

Monolithic Power Systems Price Performance

NASDAQ MPWR opened at $579.98 on Tuesday. The business’s 50-day moving average is $636.20 and its 200 day moving average is $695.03. The stock has a market capitalization of $27.76 billion, a PE ratio of 15.77, a PEG ratio of 2.60 and a beta of 1.03. Monolithic Power Systems, Inc. has a 1 year low of $546.71 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (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%. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.56 per share. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.24 dividend on an annualized basis and a dividend yield of 1.08%. Monolithic Power Systems’s payout ratio is presently 16.97%.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of Monolithic Power Systems 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by corporate insiders.

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.