Bank of New York Mellon Corp Cuts Stake in Monolithic Power Systems, Inc. $MPWR

Bank of New York Mellon Corp reduced its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 9.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 304,091 shares of the semiconductor company’s stock after selling 32,459 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monolithic Power Systems were worth $279,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MPWR. Vanguard Group Inc. raised its holdings in Monolithic Power Systems by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,939,946 shares of the semiconductor company’s stock worth $4,344,358,000 after acquiring an additional 19,277 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Monolithic Power Systems by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock worth $626,592,000 after purchasing an additional 227,159 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Monolithic Power Systems by 18.0% in the second quarter. Bank of America Corp DE now owns 692,747 shares of the semiconductor company’s stock worth $506,661,000 after purchasing an additional 105,721 shares during the last quarter. Norges Bank bought a new position in shares of Monolithic Power Systems during the second quarter valued at $438,014,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Monolithic Power Systems by 14.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 556,587 shares of the semiconductor company’s stock valued at $512,416,000 after buying an additional 71,199 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus boosted their target price on Monolithic Power Systems from $930.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wolfe Research set a $1,200.00 price objective on shares of Monolithic Power Systems and gave the company an “outperform” rating in a report on Tuesday, October 14th. KeyCorp increased their price objective on shares of Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monolithic Power Systems in a research report on Friday, December 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,300.00 price target on shares of Monolithic Power Systems in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1,135.42.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $1,183.15 on Friday. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $1,185.05. The company’s fifty day simple moving average is $973.76 and its 200-day simple moving average is $914.19. The stock has a market capitalization of $56.68 billion, a PE ratio of 30.21, a P/E/G ratio of 3.26 and a beta of 1.45.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.11. The business had revenue of $737.18 million during the quarter, compared to analysts’ expectations of $720.66 million. Monolithic Power Systems had a return on equity of 18.37% and a net margin of 71.22%.The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.06 earnings per share. As a group, research analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $1.56 per share. The ex-dividend date was Wednesday, December 31st. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.5%. Monolithic Power Systems’s payout ratio is 15.93%.

Insider Activity

In other news, CFO Theodore Blegen sold 3,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $1,024.43, for a total value of $3,073,290.00. Following the completion of the transaction, the chief financial officer owned 74,332 shares of the company’s stock, valued at $76,147,930.76. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Saria Tseng sold 20,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $926.47, for a total value of $18,529,400.00. Following the sale, the executive vice president owned 187,331 shares of the company’s stock, valued at $173,556,551.57. This represents a 9.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 69,976 shares of company stock worth $63,370,417. 3.40% of the stock is currently owned by corporate insiders.

About Monolithic Power Systems

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.