Victory Capital Management Inc. Reduces Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Victory Capital Management Inc. decreased its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 122,935 shares of the semiconductor company’s stock after selling 3,494 shares during the period. Victory Capital Management Inc. owned 0.26% of Monolithic Power Systems worth $77,545,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MPWR. Arlington Trust Co LLC grew its stake in Monolithic Power Systems by 56.1% during the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Monolithic Power Systems during the 4th quarter valued at $43,000. Operose Advisors LLC acquired a new position in Monolithic Power Systems during the 3rd quarter worth $43,000. Lindbrook Capital LLC lifted its position in shares of Monolithic Power Systems by 137.0% during the fourth quarter. Lindbrook Capital LLC now owns 109 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 63 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Monolithic Power Systems by 145.8% in the fourth quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Trading Down 0.8 %

Shares of NASDAQ:MPWR opened at $707.22 on Friday. The firm has a market cap of $34.41 billion, a price-to-earnings ratio of 84.29, a P/E/G ratio of 3.82 and a beta of 1.22. Monolithic Power Systems, Inc. has a 1 year low of $383.19 and a 1 year high of $778.15. The business has a fifty day simple moving average of $678.85 and a 200 day simple moving average of $615.35.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.17). Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. The firm had revenue of $454.01 million during the quarter, compared to analyst estimates of $452.13 million. On average, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 10.05 EPS for the current year.

Monolithic Power Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $1.25 per share. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Wednesday, March 27th. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, Director Jeff Zhou sold 200 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $750.57, for a total value of $150,114.00. Following the completion of the transaction, the director now owns 6,269 shares of the company’s stock, valued at approximately $4,705,323.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the completion of the sale, the chief financial officer now owns 75,723 shares in the company, valued at $50,226,308.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeff Zhou sold 200 shares of Monolithic Power Systems stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $750.57, for a total value of $150,114.00. Following the completion of the sale, the director now owns 6,269 shares of the company’s stock, valued at $4,705,323.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,077 shares of company stock worth $30,986,274. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their price objective on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $800.00 price target on shares of Monolithic Power Systems in a research report on Thursday. KeyCorp boosted their price objective on Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Truist Financial increased their target price on Monolithic Power Systems from $789.00 to $799.00 and gave the stock a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $716.90.

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.