Monolithic Power Systems (NASDAQ:MPWR) CFO Sells $28,686.20 in Stock

Monolithic Power Systems, Inc. (NASDAQ:MPWR) CFO Frank Anthony Balow III sold 20 shares of Monolithic Power Systems stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $1,434.31, for a total transaction of $28,686.20. Following the transaction, the chief financial officer directly owned 2,921 shares of the company’s stock, valued at $4,189,619.51. This represents a 0.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Monolithic Power Systems Trading Down 3.9%

MPWR stock traded down $56.86 during midday trading on Friday, hitting $1,390.54. The stock had a trading volume of 737,145 shares, compared to its average volume of 765,499. The firm has a market cap of $67.82 billion, a P/E ratio of 76.78 and a beta of 1.71. The business has a fifty day moving average price of $1,281.44 and a two-hundred day moving average price of $1,322.81. Monolithic Power Systems, Inc. has a 1-year low of $833.18 and a 1-year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.79 by $0.40. Monolithic Power Systems had a return on equity of 25.23% and a net margin of 23.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $4.73 EPS. The business’s revenue was up 63.1% compared to the same quarter last year. On average, equities analysts anticipate that Monolithic Power Systems, Inc. will post 23.72 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 30th. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. Monolithic Power Systems’s dividend payout ratio is presently 44.17%.

Wall Street Analysts Forecast Growth

MPWR has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, October 30th. Rosenblatt Securities raised Monolithic Power Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $1,575.00 to $1,700.00 in a research note on Friday, October 30th. Needham & Company LLC restated a “buy” rating on shares of Monolithic Power Systems in a report on Friday, October 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a research report on Wednesday, August 12th. Finally, Truist Financial lifted their price objective on shares of Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the company a “buy” rating in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $1,783.77.

Hedge Funds Weigh In On Monolithic Power Systems

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Monolithic Power Systems during the 2nd quarter valued at $7,727,289,000. State Street Corp increased its holdings in shares of Monolithic Power Systems by 4.3% in the second quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock worth $3,159,219,000 after purchasing an additional 93,732 shares during the period. Van ECK Associates Corp raised its position in shares of Monolithic Power Systems by 42.3% in the second quarter. Van ECK Associates Corp now owns 746,237 shares of the semiconductor company’s stock worth $1,031,568,000 after buying an additional 221,666 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Monolithic Power Systems in the second quarter worth $741,271,000. Finally, Royal Bank of Canada raised its position in shares of Monolithic Power Systems by 168.1% in the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock worth $517,557,000 after buying an additional 296,788 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

About Monolithic Power Systems

Monolithic Power Systems, Inc. (MPS) designs, develops and markets semiconductor-based power management solutions. Its products include power management integrated circuits, DC-to-DC converters, power modules, battery chargers, LED drivers and motor drivers, which help control and convert electrical power in electronic systems. The company’s products serve a range of markets, including computing and data storage, automotive, communications, consumer electronics and industrial applications. MPS sells to customers around the world through direct sales and distribution channels.