Monolithic Power Systems, Inc. $MPWR Stock: Cornerstone Advisors LLC Grows Stake

Cornerstone Advisors LLC boosted its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 29.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,166 shares of the semiconductor company’s stock after acquiring an additional 2,302 shares during the period. Cornerstone Advisors LLC’s holdings in Monolithic Power Systems were worth $13,696,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CFO Frank Anthony Balow III sold 20 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $1,434.31, for a total transaction of $28,686.20. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the sale, the director owned 515 shares of the company’s stock, valued at approximately $660,008.55. The trade was a 8.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MPWR shares. Truist Financial lifted their target price on Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the company a “buy” rating in a research report on Friday, October 30th. KeyCorp increased their price target on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Arete Research initiated coverage on Monolithic Power Systems in a research note on Thursday, August 20th. They set a “buy” rating and a $2,013.00 price objective on the stock. Weiss Ratings raised shares of Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a research note on Sunday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Monolithic Power Systems has an average rating of “Buy” and an average target price of $1,783.77.

Monolithic Power Systems Price Performance

Shares of NASDAQ:MPWR opened at $1,390.54 on Friday. The company has a market capitalization of $67.82 billion, a PE ratio of 76.78 and a beta of 1.71. The business has a fifty day moving average price of $1,284.98 and a two-hundred day moving average price of $1,324.28. 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 released its earnings results on Thursday, October 29th. The semiconductor company reported $8.19 EPS for the quarter, topping analysts’ consensus estimates of $7.79 by $0.40. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Monolithic Power Systems had a return on equity of 25.23% and a net margin of 23.85%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.73 EPS. Sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 23.72 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

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

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.