Bank of New York Mellon Corp Sells 8,972 Shares of Monolithic Power Systems, Inc. $MPWR

Bank of New York Mellon Corp trimmed its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 295,119 shares of the semiconductor company’s stock after selling 8,972 shares during the period. Bank of New York Mellon Corp owned 0.62% of Monolithic Power Systems worth $267,484,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MPWR. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Monolithic Power Systems during the 4th quarter worth approximately $34,000. IFP Advisors Inc grew its holdings in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 24 shares during the last quarter. Covestor Ltd grew its holdings in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 9 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Monolithic Power Systems by 542.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 38 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Monolithic Power Systems during the 4th quarter worth approximately $49,000. 93.46% of the stock is currently owned by institutional investors.

Monolithic Power Systems Stock Performance

NASDAQ:MPWR opened at $1,652.60 on Friday. The firm’s fifty day moving average is $1,454.93 and its 200-day moving average is $1,182.46. Monolithic Power Systems, Inc. has a 52 week low of $670.00 and a 52 week high of $1,714.09. The firm has a market cap of $81.19 billion, a P/E ratio of 119.15, a P/E/G ratio of 3.02 and a beta of 1.69.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.90 by $0.20. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. The company had revenue of $804.19 million for the quarter, compared to analyst estimates of $781.93 million. During the same period in the prior year, the firm posted $4.04 EPS. The company’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 20.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eileen Wynne sold 335 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,582.68, for a total transaction of $530,197.80. Following the transaction, the director owned 1,007 shares in the company, valued at $1,593,758.76. The trade was a 24.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Zhou sold 486 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the transaction, the director owned 3,800 shares in the company, valued at $6,384,000. The trade was a 11.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 113,073 shares of company stock worth $160,875,958. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

MPWR has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Truist Financial set a $1,805.00 target price on shares of Monolithic Power Systems in a report on Friday, May 1st. Zacks Research lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. William Blair reissued an “outperform” rating on shares of Monolithic Power Systems in a report on Thursday, March 5th. Finally, Weiss Ratings lowered Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,599.17.

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.