Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 6.8% during the third quarter, Holdings Channel.com reports. The fund owned 15,152 shares of the semiconductor company’s stock after acquiring an additional 966 shares during the period. Fred Alger Management LLC’s holdings in Monolithic Power Systems were worth $14,008,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in Monolithic Power Systems in the 2nd quarter valued at approximately $25,000. NBC Securities Inc. grew its stake in shares of Monolithic Power Systems by 433.3% in the third quarter. NBC Securities Inc. now owns 32 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Monolithic Power Systems by 3,400.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 35 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 34 shares during the period. Atwood & Palmer Inc. acquired a new position in Monolithic Power Systems during the 2nd quarter worth about $33,000. Finally, Crewe Advisors LLC boosted its holdings in Monolithic Power Systems by 126.3% during the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 24 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the sale, the chief financial officer now owns 61,678 shares in the company, valued at approximately $55,769,247.60. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the transaction, the executive vice president now owns 103,829 shares in the company, valued at approximately $96,518,400.11. This trade represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,100 shares of company stock valued at $17,913,521 in the last three months. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MPWR has been the subject of several recent research reports. Raymond James raised their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research report on Monday, November 11th. Wells Fargo & Company initiated coverage on Monolithic Power Systems in a report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Finally, Loop Capital raised Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price objective for the company in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.36.

Monolithic Power Systems Stock Up 1.3 %

Shares of Monolithic Power Systems stock opened at $567.64 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $542.73 and a 52 week high of $959.64. The firm’s 50 day moving average is $795.21 and its two-hundred day moving average is $817.23. The firm has a market capitalization of $27.69 billion, a P/E ratio of 64.00, a P/E/G ratio of 2.67 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. As a group, research analysts expect that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s payout ratio is currently 56.37%.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial 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 cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.