State of Alaska Department of Revenue Has $10.55 Million Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

State of Alaska Department of Revenue raised its position in Monolithic Power Systems, Inc. (NASDAQ:MPWRGet Rating) by 70.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,478 shares of the semiconductor company’s stock after purchasing an additional 11,317 shares during the period. State of Alaska Department of Revenue’s holdings in Monolithic Power Systems were worth $10,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPWR. UMB Bank N A MO grew its holdings in shares of Monolithic Power Systems by 8.6% in the 1st quarter. UMB Bank N A MO now owns 327 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 26 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Monolithic Power Systems by 3.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 916 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 27 shares in the last quarter. OLD National Bancorp IN grew its holdings in shares of Monolithic Power Systems by 4.7% in the 1st quarter. OLD National Bancorp IN now owns 640 shares of the semiconductor company’s stock valued at $311,000 after acquiring an additional 29 shares in the last quarter. Exane Derivatives grew its holdings in shares of Monolithic Power Systems by 9.3% in the 1st quarter. Exane Derivatives now owns 353 shares of the semiconductor company’s stock valued at $171,000 after acquiring an additional 30 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Monolithic Power Systems by 3.5% in the 1st quarter. Greenleaf Trust now owns 925 shares of the semiconductor company’s stock valued at $449,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Activity

In other news, CFO Theodore Blegen sold 950 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $361.58, for a total value of $343,501.00. Following the completion of the sale, the chief financial officer now directly owns 129,043 shares in the company, valued at $46,659,367.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Monolithic Power Systems news, CFO Theodore Blegen sold 950 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $361.58, for a total transaction of $343,501.00. Following the completion of the transaction, the chief financial officer now directly owns 129,043 shares in the company, valued at $46,659,367.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Hsing sold 11,495 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $361.57, for a total transaction of $4,156,247.15. Following the transaction, the chief executive officer now owns 1,026,928 shares of the company’s stock, valued at $371,306,356.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,482 shares of company stock worth $16,926,370. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

MPWR has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Monolithic Power Systems from $570.00 to $580.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Raymond James reduced their price target on Monolithic Power Systems from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Tuesday, August 2nd. Needham & Company LLC lifted their price target on Monolithic Power Systems from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Cowen lifted their price target on Monolithic Power Systems from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, Oppenheimer lifted their price target on Monolithic Power Systems from $500.00 to $550.00 in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average price target of $571.67.

Monolithic Power Systems Stock Down 0.2 %

Shares of NASDAQ:MPWR opened at $417.96 on Monday. Monolithic Power Systems, Inc. has a 12-month low of $348.02 and a 12-month high of $580.00. The stock has a market cap of $19.56 billion, a PE ratio of 59.97, a P/E/G ratio of 1.74 and a beta of 1.10. The business has a 50 day moving average of $463.48 and a 200-day moving average of $438.72.

Monolithic Power Systems (NASDAQ:MPWRGet Rating) last released its quarterly earnings results on Monday, August 1st. The semiconductor company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.31. Monolithic Power Systems had a net margin of 22.40% and a return on equity of 26.57%. The company had revenue of $461.00 million during the quarter, compared to the consensus estimate of $430.59 million. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 57.2% on a year-over-year basis. Equities research analysts expect that Monolithic Power Systems, Inc. will post 9.59 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.72%. Monolithic Power Systems’s payout ratio is 43.04%.

Monolithic Power Systems Profile

(Get Rating)

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers and notebooks, monitors, infotainment applications, and medical equipment.

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Institutional Ownership by Quarter for Monolithic Power Systems (NASDAQ:MPWR)

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