Kentucky Retirement Systems Insurance Trust Fund Has $1.33 Million Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 8.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,443 shares of the semiconductor company’s stock after selling 127 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Monolithic Power Systems were worth $1,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MPWR. The Manufacturers Life Insurance Company grew its position in shares of Monolithic Power Systems by 311.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock worth $153,319,000 after purchasing an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Monolithic Power Systems by 1,947.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock worth $117,826,000 after purchasing an additional 136,391 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Monolithic Power Systems by 92,842.9% during the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after purchasing an additional 123,481 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Monolithic Power Systems by 26.3% during the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after acquiring an additional 93,362 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Monolithic Power Systems by 364.2% during the 2nd quarter. National Bank of Canada FI now owns 85,960 shares of the semiconductor company’s stock worth $70,435,000 after acquiring an additional 67,444 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPWR. TD Cowen reduced their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $950.00 price target on shares of Monolithic Power Systems in a research report on Tuesday, November 12th. Rosenblatt Securities lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James increased their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $916.73.

Monolithic Power Systems Stock Performance

MPWR stock opened at $573.38 on Friday. The company has a market capitalization of $27.97 billion, a P/E ratio of 64.64, a PEG ratio of 2.73 and a beta of 1.15. The company has a fifty day moving average price of $856.47 and a 200-day moving average price of $827.10. Monolithic Power Systems, Inc. has a 52-week low of $532.86 and a 52-week high of $959.64.

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

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.87%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Insider Transactions at Monolithic Power Systems

In other news, EVP Deming Xiao sold 10,000 shares of Monolithic Power Systems stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total transaction of $9,500,000.00. Following the transaction, the executive vice president now owns 29,714 shares in the company, valued at approximately $28,228,300. The trade was a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theodore Blegen sold 734 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.15, for a total transaction of $561,620.10. Following the completion of the transaction, the chief financial officer now owns 55,944 shares in the company, valued at approximately $42,805,551.60. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,359 shares of company stock worth $36,209,571. Company 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.