PineBridge Investments L.P. increased its stake in Monolithic Power Systems Inc. (NASDAQ:MPWR) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,701 shares of the company’s stock after buying an additional 182 shares during the period. PineBridge Investments L.P.’s holdings in Monolithic Power Systems were worth $321,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of MPWR. Adage Capital Partners GP L.L.C. increased its position in Monolithic Power Systems by 186.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,283,076 shares of the company’s stock valued at $81,655,000 after buying an additional 835,200 shares during the period. Norges Bank bought a new position in Monolithic Power Systems during the fourth quarter valued at approximately $19,578,000. Renaissance Technologies LLC increased its position in Monolithic Power Systems by 57.2% in the first quarter. Renaissance Technologies LLC now owns 693,286 shares of the company’s stock valued at $44,121,000 after buying an additional 252,200 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in Monolithic Power Systems during the second quarter valued at approximately $16,039,000. Finally, Chartwell Investment Partners LLC increased its position in Monolithic Power Systems by 83.1% in the second quarter. Chartwell Investment Partners LLC now owns 476,102 shares of the company’s stock valued at $32,527,000 after buying an additional 216,079 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.
Shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) opened at 76.45 on Thursday. The stock has a 50 day moving average price of $74.97 and a 200 day moving average price of $68.14. The firm has a market capitalization of $3.10 billion, a PE ratio of 73.58 and a beta of 1.58. Monolithic Power Systems Inc. has a 1-year low of $47.94 and a 1-year high of $78.45.
Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Monday, July 25th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. Monolithic Power Systems had a return on equity of 12.49% and a net margin of 12.08%. The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $93.08 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, September 28th. Monolithic Power Systems’s payout ratio is 76.92%.
Several equities analysts recently commented on MPWR shares. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. William Blair restated an “outperform” rating on shares of Monolithic Power Systems in a research report on Monday, September 12th. Needham & Company LLC restated a “buy” rating and set a $76.00 target price (up previously from $68.00) on shares of Monolithic Power Systems in a research report on Wednesday, July 27th. Stifel Nicolaus raised their target price on Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Finally, Zacks Investment Research downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.00.
In other Monolithic Power Systems news, VP Saria Tseng sold 5,653 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $75.25, for a total transaction of $425,388.25. Following the completion of the sale, the vice president now directly owns 274,112 shares in the company, valued at $20,626,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Hsing sold 21,094 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $72.66, for a total value of $1,532,690.04. Following the sale, the chief executive officer now owns 1,208,497 shares of the company’s stock, valued at $87,809,392.02. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
About Monolithic Power Systems
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company provides power solutions for systems found in industrial applications, telecommunication infrastructures, cloud computing, automotive and consumer applications.
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