Monolithic Power Systems, Inc. $MPWR Stock: Pictet Asset Management Holding SA Reduces Stake

Pictet Asset Management Holding SA lessened its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,933 shares of the semiconductor company’s stock after selling 3,803 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Monolithic Power Systems were worth $130,595,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MPWR. BlackRock Inc. acquired a new stake in Monolithic Power Systems in the second quarter worth about $7,727,289,000. Bank of America Corp DE bought a new stake in Monolithic Power Systems during the 2nd quarter worth about $741,271,000. Legal & General Group Plc bought a new stake in Monolithic Power Systems during the 2nd quarter worth about $497,561,000. Royal Bank of Canada lifted its position in Monolithic Power Systems by 168.1% during the 1st quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock valued at $517,557,000 after purchasing an additional 296,788 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Monolithic Power Systems during the 2nd quarter valued at about $402,414,000. Institutional investors own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MPWR shares. Oppenheimer reduced their target price on shares of Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. Truist Financial lifted their price target on shares of Monolithic Power Systems from $1,889.00 to $1,906.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Wall Street Zen raised shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a research note on Sunday, October 25th. Rosenblatt Securities upgraded shares of Monolithic Power Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $1,575.00 to $1,700.00 in a report on Friday, October 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $1,783.77.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $1,190.44 on Monday. Monolithic Power Systems, Inc. has a 12 month low of $833.18 and a 12 month high of $1,714.09. The business has a fifty day simple moving average of $1,267.39 and a 200 day simple moving average of $1,315.87. The stock has a market cap of $58.06 billion, a PE ratio of 65.73 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data 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 return on equity of 25.23% and a net margin of 23.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $4.73 earnings per share. The firm’s revenue was up 63.1% on a year-over-year basis. Analysts expect that Monolithic Power Systems, Inc. will post 23.72 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.7%. Monolithic Power Systems’s dividend payout ratio is 44.17%.

Insider Activity at Monolithic Power Systems

In related news, Director Kuo Wei Chang sold 50 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total value of $64,078.50. Following the sale, the director directly owned 515 shares in the company, valued at $660,008.55. This trade represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is currently owned by company insiders.

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.