Monolithic Power Systems, Inc. $MPWR Holdings Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,070 shares of the semiconductor company’s stock after selling 940 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Monolithic Power Systems were worth $5,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Monolithic Power Systems during the second quarter valued at $7,727,289,000. State Street Corp raised its holdings in shares of Monolithic Power Systems by 4.3% in the second quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock valued at $3,159,219,000 after acquiring an additional 93,732 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Monolithic Power Systems by 42.3% in the second quarter. Van ECK Associates Corp now owns 746,237 shares of the semiconductor company’s stock valued at $1,031,568,000 after acquiring an additional 221,666 shares in the last quarter. Bank of America Corp DE purchased a new stake in Monolithic Power Systems in the second quarter worth about $741,271,000. Finally, Royal Bank of Canada lifted its stake in Monolithic Power Systems by 168.1% in the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock worth $517,557,000 after acquiring an additional 296,788 shares during the period. Institutional investors own 93.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on MPWR shares. Arete Research started coverage on shares of Monolithic Power Systems in a report on Thursday, August 20th. They set a “buy” rating and a $2,013.00 target price on the stock. Raymond James Financial restated an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Oppenheimer lowered their price target on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. Needham & Company LLC reiterated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, October 30th. Finally, Truist Financial increased their price objective on shares of Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the company a “buy” rating in a research note on Friday, October 30th. One research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $1,783.77.

Insiders Place Their Bets

In related news, Director Kuo Wei Chang sold 50 shares of the company’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 value of $64,078.50. Following the sale, the director owned 515 shares in the company, valued at $660,008.55. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of NASDAQ:MPWR opened at $1,190.44 on Monday. The company has a market capitalization of $58.06 billion, a PE ratio of 65.73 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12-month low of $833.18 and a 12-month high of $1,714.09. The business’s fifty day simple moving average is $1,267.39 and its 200-day simple moving average is $1,315.87.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, October 29th. The semiconductor company reported $8.19 EPS for the quarter, beating analysts’ consensus estimates of $7.79 by $0.40. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company posted $4.73 earnings per share. Monolithic Power Systems’s revenue for the quarter was up 63.1% compared to the same quarter last year. Research analysts predict that Monolithic Power Systems, Inc. will post 23.72 EPS for the current year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Monolithic Power Systems’s payout ratio is presently 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.