New York State Common Retirement Fund Sells 14,872 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

New York State Common Retirement Fund trimmed its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 16.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 75,901 shares of the semiconductor company’s stock after selling 14,872 shares during the period. New York State Common Retirement Fund owned 0.16% of Monolithic Power Systems worth $47,877,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC grew its holdings in Monolithic Power Systems by 56.1% during the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Monolithic Power Systems during the third quarter worth $43,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Monolithic Power Systems in the fourth quarter worth $43,000. Lindbrook Capital LLC increased its holdings in Monolithic Power Systems by 137.0% in the fourth quarter. Lindbrook Capital LLC now owns 109 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 63 shares during the period. Finally, Private Trust Co. NA raised its position in Monolithic Power Systems by 145.8% during the 4th quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

Shares of MPWR opened at $642.21 on Thursday. Monolithic Power Systems, Inc. has a one year low of $383.19 and a one year high of $778.15. The company has a market cap of $31.25 billion, a PE ratio of 73.31, a P/E/G ratio of 3.27 and a beta of 1.24. The stock has a 50-day moving average of $685.34 and a 200-day moving average of $606.79.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.17). The firm had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. Monolithic Power Systems had a return on equity of 22.66% and a net margin of 23.47%. Analysts expect that Monolithic Power Systems, Inc. will post 10.05 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $1.25 per share. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.00 annualized dividend and a yield of 0.78%. Monolithic Power Systems’s dividend payout ratio is presently 57.08%.

Wall Street Analysts Forecast Growth

MPWR has been the subject of several recent research reports. TD Cowen increased their price target on Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Oppenheimer boosted their price target on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. KeyCorp increased their price objective on shares of Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC lifted their target price on shares of Monolithic Power Systems from $500.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their price target on shares of Monolithic Power Systems from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $670.30.

Insiders Place Their Bets

In other news, insider Deming Xiao sold 859 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $680.00, for a total transaction of $584,120.00. Following the completion of the sale, the insider now directly owns 208,580 shares of the company’s stock, valued at $141,834,400. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Michael Hsing sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $602.01, for a total value of $4,816,080.00. Following the completion of the sale, the chief executive officer now directly owns 921,774 shares of the company’s stock, valued at $554,917,165.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Deming Xiao sold 859 shares of Monolithic Power Systems stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $680.00, for a total value of $584,120.00. Following the transaction, the insider now directly owns 208,580 shares in the company, valued at approximately $141,834,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,077 shares of company stock worth $30,357,479. Insiders own 3.20% of the company’s stock.

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.