State of Michigan Retirement System Sells 1,159 Shares of Monolithic Power Systems, Inc. $MPWR

State of Michigan Retirement System reduced its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,811 shares of the semiconductor company’s stock after selling 1,159 shares during the quarter. State of Michigan Retirement System’s holdings in Monolithic Power Systems were worth $17,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPWR. Royal Fund Management LLC raised its holdings in Monolithic Power Systems by 2.7% in the first quarter. Royal Fund Management LLC now owns 264 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 7 shares in the last quarter. Covestor Ltd lifted its position in shares of Monolithic Power Systems by 29.0% during the fourth quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 9 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Monolithic Power Systems by 23.7% in the 1st quarter. Bell Investment Advisors Inc now owns 47 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 9 shares in the last quarter. Resonant Capital Advisors LLC grew its position in shares of Monolithic Power Systems by 4.1% in the 4th quarter. Resonant Capital Advisors LLC now owns 253 shares of the semiconductor company’s stock worth $230,000 after buying an additional 10 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Monolithic Power Systems by 1.4% in the 1st quarter. CENTRAL TRUST Co now owns 701 shares of the semiconductor company’s stock worth $766,000 after buying an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MPWR. TD Cowen increased their target price on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Truist Financial upped their price target on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Rosenblatt Securities reiterated a “neutral” rating and set a $1,575.00 price objective on shares of Monolithic Power Systems in a report on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,705.82.

Insider Transactions at Monolithic Power Systems

In related news, Director Jeff Zhou sold 486 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total value of $816,480.00. Following the transaction, the director owned 3,800 shares in the company, valued at approximately $6,384,000. This represents a 11.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Saria Tseng sold 7,565 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,700.00, for a total transaction of $12,860,500.00. Following the sale, the executive vice president owned 144,218 shares of the company’s stock, valued at approximately $245,170,600. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 13,191 shares of company stock valued at $21,807,015. 3.60% of the stock is owned by company insiders.

Monolithic Power Systems Price Performance

NASDAQ MPWR opened at $1,402.01 on Friday. The stock’s fifty day moving average price is $1,394.48 and its 200 day moving average price is $1,338.74. Monolithic Power Systems, Inc. has a 1 year low of $800.97 and a 1 year high of $1,714.09. The company has a market cap of $68.90 billion, a price-to-earnings ratio of 85.96 and a beta of 1.69.

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

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 49.05%.

Monolithic Power Systems Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC?DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC?DC power solutions.