Monolithic Power Systems, Inc. $MPWR Stock Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,381 shares of the semiconductor company’s stock after selling 6,044 shares during the quarter. Congress Asset Management Co. owned about 0.15% of Monolithic Power Systems worth $100,208,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank increased its holdings in shares of Monolithic Power Systems by 8.0% in the third quarter. Eastern Bank now owns 108 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 8 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Monolithic Power Systems by 2.2% during the third quarter. Versant Capital Management Inc now owns 693 shares of the semiconductor company’s stock worth $934,000 after purchasing an additional 15 shares during the period. Burkett Financial Services LLC purchased a new position in Monolithic Power Systems in the 3rd quarter valued at $70,000. Andra AP fonden grew its position in Monolithic Power Systems by 134.3% in the 2nd quarter. Andra AP fonden now owns 785 shares of the semiconductor company’s stock valued at $1,085,000 after buying an additional 450 shares during the last quarter. Finally, State Street Corp increased its stake in Monolithic Power Systems by 4.3% in 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 buying an additional 93,732 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MPWR shares. KeyCorp upped their price objective on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Zacks Research cut shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Friday. TD Cowen restated a “buy” rating on shares of Monolithic Power Systems in a research report on Monday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $1,575.00 price objective on shares of Monolithic Power Systems in a report on Friday, July 31st. Finally, Weiss Ratings cut Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 31st. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,731.42.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 30 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the sale, the executive vice president owned 1,119 shares of the company’s stock, valued at $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction, the director directly owned 515 shares of the company’s stock, valued at approximately $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 130 shares of company stock valued at $175,397. 3.60% of the stock is currently owned by company insiders.

Monolithic Power Systems Stock Performance

MPWR stock traded down $6.20 during trading on Tuesday, reaching $1,473.69. 374,711 shares of the company were exchanged, compared to its average volume of 727,078. Monolithic Power Systems, Inc. has a 52-week low of $833.18 and a 52-week high of $1,714.09. The company has a market cap of $72.42 billion, a P/E ratio of 90.36 and a beta of 1.68. The stock’s 50 day moving average price is $1,305.20 and its 200 day moving average price is $1,377.41.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping analysts’ consensus estimates of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to analysts’ expectations of $903.30 million. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.The company’s revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.21 EPS. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is 49.05%.

About Monolithic Power Systems

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company’s product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.