Elevation Point Wealth Partners LLC Sells 119 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Elevation Point Wealth Partners LLC cut its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 15.1% during the first quarter, HoldingsChannel reports. The firm owned 670 shares of the semiconductor company’s stock after selling 119 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Monolithic Power Systems were worth $389,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in Monolithic Power Systems by 46.0% in the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company’s stock worth $376,000 after buying an additional 200 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Monolithic Power Systems by 5.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 20,512 shares of the semiconductor company’s stock valued at $12,568,000 after purchasing an additional 1,034 shares during the last quarter. Principal Securities Inc. raised its position in Monolithic Power Systems by 45.4% in the 4th quarter. Principal Securities Inc. now owns 782 shares of the semiconductor company’s stock worth $463,000 after purchasing an additional 244 shares during the period. Allworth Financial LP raised its position in Monolithic Power Systems by 11.5% in the 4th quarter. Allworth Financial LP now owns 155 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 16 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Monolithic Power Systems by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 174,411 shares of the semiconductor company’s stock worth $103,200,000 after purchasing an additional 93,347 shares during the last quarter. 93.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the completion of the sale, the executive vice president now owns 4,015 shares of the company’s stock, valued at $2,814,515. This represents a 74.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $650.00, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 776 shares in the company, valued at $504,400. This represents a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,200 shares of company stock valued at $8,546,800. 3.40% of the stock is currently owned by corporate insiders.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $706.59 on Tuesday. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $959.64. The company has a 50-day moving average of $634.92 and a 200 day moving average of $621.66. The firm has a market cap of $33.83 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.19.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 EPS for the quarter, beating the consensus estimate of $4.00 by $0.04. Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. The business had revenue of $637.55 million during the quarter, compared to analyst estimates of $633.43 million. During the same quarter in the previous year, the business posted $2.81 EPS. The company’s quarterly revenue was up 39.2% compared to the same quarter last year. Sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.56 per share. The ex-dividend date is Monday, June 30th. This represents a $6.24 dividend on an annualized basis and a yield of 0.88%. Monolithic Power Systems’s dividend payout ratio is currently 16.56%.

Wall Street Analyst Weigh In

MPWR has been the topic of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and set a $720.00 target price (down previously from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price objective on Monolithic Power Systems from $665.00 to $695.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup upped their price objective on Monolithic Power Systems from $700.00 to $785.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. KeyCorp decreased their target price on Monolithic Power Systems from $850.00 to $820.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $789.42.

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.