Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 42.2% in the third quarter, Holdings Channel reports. The firm owned 125,515 shares of the semiconductor company’s stock after selling 91,766 shares during the period. Lord Abbett & CO. LLC’s holdings in Monolithic Power Systems were worth $116,039,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $900.00 price objective on shares of Monolithic Power Systems in a research report on Monday, November 11th. Loop Capital raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target for the company in a report on Monday, November 18th. KeyCorp dropped their price target on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company started 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 price objective for the company. Finally, TD Cowen dropped 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. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $828.67.

Insider Buying and Selling at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $908.36, for a total transaction of $2,270,900.00. Following the transaction, the chief financial officer now directly owns 59,178 shares of the company’s stock, valued at $53,754,928.08. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deming Xiao sold 866 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $765.14, for a total transaction of $662,611.24. Following the completion of the sale, the executive vice president now directly owns 162,239 shares of the company’s stock, valued at $124,135,548.46. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,100 shares of company stock worth $17,153,021. 3.70% of the stock is owned by company insiders.

Monolithic Power Systems Stock Up 0.5 %

Shares of Monolithic Power Systems stock opened at $608.44 on Friday. The business has a 50-day moving average price of $730.56 and a 200 day moving average price of $806.89. Monolithic Power Systems, Inc. has a fifty-two week low of $546.71 and a fifty-two week high of $959.64. The firm has a market cap of $29.68 billion, a P/E ratio of 68.60, a P/E/G ratio of 2.97 and a beta of 1.05.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 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 business had revenue of $620.12 million during the quarter, compared to analyst estimates of $600.10 million. As a group, equities research analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.82%. Monolithic Power Systems’s dividend payout ratio (DPR) is 56.37%.

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.