Chartwell Investment Partners LLC lessened its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 9.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 19,891 shares of the semiconductor company’s stock after selling 2,178 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Monolithic Power Systems were worth $4,714,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in Monolithic Power Systems during the second quarter valued at about $34,000. Signaturefd LLC grew its position in shares of Monolithic Power Systems by 35.6% during the 1st quarter. Signaturefd LLC now owns 297 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 78 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Monolithic Power Systems during the 1st quarter worth approximately $56,000. Meeder Asset Management Inc. raised its holdings in shares of Monolithic Power Systems by 50.5% in the 1st quarter. Meeder Asset Management Inc. now owns 456 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 153 shares during the period. Finally, CWM LLC raised its holdings in shares of Monolithic Power Systems by 33.0% in the 2nd quarter. CWM LLC now owns 371 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 92 shares during the period. 94.34% of the stock is owned by institutional investors.
In related news, CFO Theodore Blegen sold 3,177 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $208.67, for a total value of $662,944.59. Following the sale, the chief financial officer now directly owns 139,067 shares of the company’s stock, valued at $29,019,110.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Zhou sold 500 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $198.00, for a total transaction of $99,000.00. Following the sale, the director now owns 15,259 shares of the company’s stock, valued at $3,021,282. The disclosure for this sale can be found here. Insiders sold 103,681 shares of company stock worth $23,000,455 in the last quarter. 3.00% of the stock is currently owned by company insiders.
Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. Monolithic Power Systems had a net margin of 18.60% and a return on equity of 15.41%. The business had revenue of $186.21 million for the quarter, compared to analyst estimates of $169.79 million. During the same quarter in the prior year, the firm posted $0.92 EPS. Monolithic Power Systems’s revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that Monolithic Power Systems, Inc. will post 2.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 29th. This represents a $2.00 annualized dividend and a dividend yield of 0.75%. Monolithic Power Systems’s payout ratio is currently 79.05%.
A number of research firms have issued reports on MPWR. Deutsche Bank raised their target price on Monolithic Power Systems from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on Monolithic Power Systems from $268.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC upped their price objective on shares of Monolithic Power Systems from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday. SunTrust Banks lifted their target price on shares of Monolithic Power Systems from $212.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, BidaskClub upgraded shares of Monolithic Power Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $262.22.
Monolithic Power Systems Company Profile
Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers 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, monitors, automobiles, and medical equipment.
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