BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 12.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,124 shares of the semiconductor company’s stock after selling 1,195 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Monolithic Power Systems were worth $7,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Monolithic Power Systems by 79.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 51,208 shares of the semiconductor company’s stock valued at $47,342,000 after buying an additional 22,642 shares during the period. Circle Wealth Management LLC grew its stake in shares of Monolithic Power Systems by 32.8% during the 3rd quarter. Circle Wealth Management LLC now owns 1,446 shares of the semiconductor company’s stock worth $1,338,000 after purchasing an additional 357 shares during the period. Fred Alger Management LLC increased its holdings in shares of Monolithic Power Systems by 6.8% during the 3rd quarter. Fred Alger Management LLC now owns 15,152 shares of the semiconductor company’s stock valued at $14,008,000 after purchasing an additional 966 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Monolithic Power Systems by 150.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,211 shares of the semiconductor company’s stock valued at $1,120,000 after purchasing an additional 727 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Monolithic Power Systems by 9.1% during the third quarter. Captrust Financial Advisors now owns 1,752 shares of the semiconductor company’s stock worth $1,620,000 after buying an additional 146 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the completion of the sale, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. This trade represents a 9.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $765.14, for a total transaction of $662,611.24. Following the transaction, the executive vice president now directly owns 162,239 shares of the company’s stock, valued at approximately $124,135,548.46. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,100 shares of company stock valued at $17,913,521 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $567.64 on Monday. The stock’s 50 day simple moving average is $795.21 and its 200-day simple moving average is $818.50. The stock has a market cap of $27.69 billion, a P/E ratio of 64.00, a P/E/G ratio of 2.70 and a beta of 1.15. Monolithic Power Systems, Inc. has a 1-year low of $542.73 and a 1-year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. As a group, research analysts expect that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s payout ratio is currently 56.37%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MPWR. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 target price on the stock in a research note on Monday, November 18th. Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, September 27th. TD Cowen decreased their target price on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company assumed coverage on shares of Monolithic Power Systems in a report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $840.36.

About Monolithic Power Systems

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.