Verition Fund Management LLC bought a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,622 shares of the semiconductor company’s stock, valued at approximately $1,420,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Grandeur Peak Global Advisors LLC bought a new stake in Monolithic Power Systems during the second quarter valued at approximately $141,000. Engineers Gate Manager LP bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $201,000. Eagle Boston Investment Management Inc. bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $216,000. Signition LP bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $222,000. Finally, Triangle Securities Wealth Management bought a new position in shares of Monolithic Power Systems in the second quarter worth approximately $224,000. Institutional investors own 93.63% of the company’s stock.
In related news, VP Saria Tseng sold 4,729 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $135.65, for a total value of $641,488.85. Following the completion of the transaction, the vice president now directly owns 291,851 shares of the company’s stock, valued at approximately $39,589,588.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Hsing sold 15,572 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $135.65, for a total transaction of $2,112,341.80. Following the transaction, the chief executive officer now directly owns 1,138,632 shares of the company’s stock, valued at $154,455,430.80. The disclosure for this sale can be found here. Insiders sold a total of 174,129 shares of company stock valued at $24,183,574 over the last ninety days. 4.00% of the stock is currently owned by insiders.
Shares of MPWR stock traded up $3.07 during mid-day trading on Friday, hitting $113.96. The company had a trading volume of 625,616 shares, compared to its average volume of 364,601. Monolithic Power Systems, Inc. has a 52-week low of $103.14 and a 52-week high of $152.21. The company has a market capitalization of $5.31 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.53.
Monolithic Power Systems (NASDAQ:MPWR) last released its earnings results on Wednesday, July 25th. The semiconductor company reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. The firm had revenue of $139.76 million for the quarter, compared to the consensus estimate of $139.45 million. Monolithic Power Systems had a net margin of 15.51% and a return on equity of 17.84%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that Monolithic Power Systems, Inc. will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, September 27th. Monolithic Power Systems’s payout ratio is currently 64.86%.
MPWR has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Monolithic Power Systems from $147.00 to $155.00 and gave the stock a “$141.80” rating in a research report on Thursday, July 19th. Needham & Company LLC upped their price target on shares of Monolithic Power Systems from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. BidaskClub lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. ValuEngine lowered shares of Monolithic Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Finally, Raymond James lowered shares of Monolithic Power Systems from a “strong-buy” rating to an “outperform” rating and set a $160.00 price target for the company. in a research report on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Monolithic Power Systems has an average rating of “Buy” and an average price target of $155.38.
Monolithic Power Systems Profile
Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.
Read More: Initial Public Offering (IPO)
Receive News & Ratings for Monolithic Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monolithic Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.