Monolithic Power Systems, Inc. (NASDAQ:MPWR) Sees Large Decline in Short Interest

Monolithic Power Systems, Inc. (NASDAQ:MPWR) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,090,000 shares, a drop of 17.1% from the November 15th total of 2,520,000 shares. Based on an average daily volume of 839,900 shares, the days-to-cover ratio is currently 2.5 days.

Monolithic Power Systems Trading Up 0.5 %

Shares of NASDAQ:MPWR opened at $608.44 on Friday. The firm has a market capitalization of $29.68 billion, a PE ratio of 68.60, a PEG ratio of 2.97 and a beta of 1.05. Monolithic Power Systems has a 1-year low of $546.71 and a 1-year high of $959.64. The business’s 50 day moving average is $730.56 and its 200-day moving average is $806.89.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share 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%. On average, sell-side analysts predict that Monolithic Power Systems will post 10.46 EPS for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 0.82%. Monolithic Power Systems’s payout ratio is currently 56.37%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MPWR. Truist Financial reiterated a “buy” rating and set a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Loop Capital upgraded Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a research report on Monday, November 18th. Needham & Company LLC lowered their price target on Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Oppenheimer restated an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research note on Monday, November 11th. Finally, Wells Fargo & Company initiated coverage on shares of Monolithic Power Systems in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 target price for the company. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Monolithic Power Systems has an average rating of “Moderate Buy” and a consensus target price of $828.67.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $908.36, for a total value of $2,270,900.00. Following the transaction, the chief financial officer now owns 59,178 shares of the company’s stock, valued at $53,754,928.08. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at $96,518,400.11. This trade represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,100 shares of company stock worth $17,153,021 over the last ninety days. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Monolithic Power Systems

A number of hedge funds have recently modified their holdings of MPWR. FMR LLC boosted its stake in Monolithic Power Systems by 11.4% in the 3rd quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after buying an additional 361,416 shares in the last quarter. State Street Corp lifted its holdings in shares of Monolithic Power Systems by 2.1% during the third quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after acquiring an additional 42,678 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Monolithic Power Systems by 11.2% during the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after acquiring an additional 133,838 shares during the period. Van ECK Associates Corp boosted its stake in shares of Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after purchasing an additional 93,362 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Monolithic Power Systems by 5.0% in the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after purchasing an additional 15,350 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

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.