SteelPeak Wealth LLC Sells 19 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

SteelPeak Wealth LLC lessened its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 852 shares of the semiconductor company’s stock after selling 19 shares during the period. SteelPeak Wealth LLC’s holdings in Monolithic Power Systems were worth $789,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MPWR. Wealth Enhancement Advisory Services LLC grew its holdings in Monolithic Power Systems by 7.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,681 shares of the semiconductor company’s stock valued at $1,816,000 after purchasing an additional 187 shares during the period. Diversified Trust Co bought a new position in shares of Monolithic Power Systems in the first quarter worth about $474,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Monolithic Power Systems by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 115,098 shares of the semiconductor company’s stock worth $77,970,000 after acquiring an additional 5,335 shares during the period. Advisor Resource Council bought a new position in shares of Monolithic Power Systems in the first quarter worth about $241,000. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Monolithic Power Systems by 11.4% in the first quarter. First Trust Direct Indexing L.P. now owns 1,375 shares of the semiconductor company’s stock worth $932,000 after acquiring an additional 141 shares during the period. Institutional investors own 93.46% of the company’s stock.

Analyst Upgrades and Downgrades

MPWR has been the subject of a number of recent analyst reports. Raymond James upped their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. KeyCorp upped their price objective on Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen raised Monolithic Power Systems to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $959.90.

Insider Transactions at Monolithic Power Systems

In other news, EVP Deming Xiao sold 859 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $668,637.01. Following the sale, the executive vice president now directly owns 202,354 shares in the company, valued at approximately $157,510,330.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Monolithic Power Systems news, EVP Deming Xiao sold 859 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total transaction of $668,637.01. Following the transaction, the executive vice president now directly owns 202,354 shares in the company, valued at $157,510,330.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Theodore Blegen sold 728 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the transaction, the chief financial officer now owns 64,178 shares in the company, valued at approximately $49,955,513.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,636 shares of company stock worth $36,459,953. 3.20% of the stock is currently owned by company insiders.

Monolithic Power Systems Price Performance

Shares of MPWR stock opened at $919.81 on Thursday. Monolithic Power Systems, Inc. has a 1 year low of $409.05 and a 1 year high of $959.64. The stock’s 50 day simple moving average is $904.13 and its two-hundred day simple moving average is $821.37. The company has a market cap of $44.78 billion, a PE ratio of 109.63, a price-to-earnings-growth ratio of 4.17 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that Monolithic Power Systems, Inc. will post 10.41 EPS for the current year.

Monolithic Power Systems Announces Dividend

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 $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.54%. Monolithic Power Systems’s payout ratio is 59.59%.

Monolithic Power Systems Company 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.