Congress Asset Management Co. Sells 17,585 Shares of Monolithic Power Systems, Inc. $MPWR

Congress Asset Management Co. cut its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,686 shares of the semiconductor company’s stock after selling 17,585 shares during the quarter. Congress Asset Management Co.’s holdings in Monolithic Power Systems were worth $82,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MPWR. Penserra Capital Management LLC boosted its stake in Monolithic Power Systems by 88.9% in the third quarter. Penserra Capital Management LLC now owns 2,191 shares of the semiconductor company’s stock valued at $2,016,000 after acquiring an additional 1,031 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Monolithic Power Systems during the 3rd quarter worth approximately $1,121,000. Candriam S.C.A. raised its holdings in shares of Monolithic Power Systems by 6.9% in the 3rd quarter. Candriam S.C.A. now owns 85,907 shares of the semiconductor company’s stock worth $79,089,000 after purchasing an additional 5,561 shares during the period. Vanguard Group Inc. lifted its stake in Monolithic Power Systems by 2.3% in the third quarter. Vanguard Group Inc. now owns 6,074,033 shares of the semiconductor company’s stock valued at $5,591,998,000 after purchasing an additional 134,087 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Monolithic Power Systems by 66.4% in the third quarter. First Trust Advisors LP now owns 447,801 shares of the semiconductor company’s stock valued at $412,263,000 after purchasing an additional 178,622 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Trading Up 0.7%

Shares of NASDAQ MPWR opened at $1,076.35 on Tuesday. The business has a 50-day moving average of $1,113.58 and a 200-day moving average of $1,004.65. The firm has a market capitalization of $52.87 billion, a price-to-earnings ratio of 84.49, a PEG ratio of 2.71 and a beta of 1.45. Monolithic Power Systems, Inc. has a 12 month low of $438.86 and a 12 month high of $1,256.22.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.05. Monolithic Power Systems had a net margin of 22.07% and a return on equity of 18.33%. The business had revenue of $751.16 million for the quarter, compared to the consensus estimate of $741.69 million. During the same period last year, the firm posted $4.09 earnings per share. Monolithic Power Systems’s quarterly revenue was up 20.8% on a year-over-year basis. On average, analysts predict that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $2.00 per share. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.56. The ex-dividend date is Tuesday, March 31st. This represents a $8.00 annualized dividend and a dividend yield of 0.7%. Monolithic Power Systems’s dividend payout ratio is 62.79%.

Analyst Upgrades and Downgrades

MPWR has been the subject of a number of recent research reports. Citigroup raised their target price on Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Truist Financial increased their price target on Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Zacks Research raised Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Needham & Company LLC boosted their price objective on Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,218.42.

Insider Activity

In other news, CFO Theodore Blegen sold 21,725 shares of Monolithic Power Systems stock in a transaction on Friday, February 6th. The shares were sold at an average price of $1,171.16, for a total transaction of $25,443,451.00. Following the completion of the sale, the chief financial officer directly owned 82,353 shares of the company’s stock, valued at approximately $96,448,539.48. The trade was a 20.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deming Xiao sold 22,875 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $1,171.16, for a total transaction of $26,790,285.00. Following the completion of the transaction, the executive vice president owned 235,932 shares of the company’s stock, valued at $276,314,121.12. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 98,550 shares of company stock worth $114,256,090. Corporate insiders own 3.40% of the company’s stock.

Monolithic Power Systems Profile

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.