Van ECK Associates Corp Buys 33,287 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Van ECK Associates Corp boosted its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 10.4% in the second quarter, Holdings Channel reports. The firm owned 354,461 shares of the semiconductor company’s stock after purchasing an additional 33,287 shares during the quarter. Van ECK Associates Corp’s holdings in Monolithic Power Systems were worth $291,254,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Monolithic Power Systems by 38,510.1% during the 4th quarter. International Assets Investment Management LLC now owns 76,448 shares of the semiconductor company’s stock worth $48,222,000 after acquiring an additional 76,250 shares in the last quarter. CWM LLC boosted its holdings in shares of Monolithic Power Systems by 13.0% in the 4th quarter. CWM LLC now owns 764 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 88 shares in the last quarter. Truist Financial Corp increased its stake in shares of Monolithic Power Systems by 2.0% in the 4th quarter. Truist Financial Corp now owns 6,559 shares of the semiconductor company’s stock valued at $4,137,000 after purchasing an additional 130 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Monolithic Power Systems by 17.5% during the 4th quarter. Russell Investments Group Ltd. now owns 26,953 shares of the semiconductor company’s stock worth $17,002,000 after buying an additional 4,018 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its position in shares of Monolithic Power Systems by 8.6% during the 4th quarter. Gilbert & Cook Inc. now owns 1,608 shares of the semiconductor company’s stock worth $1,014,000 after buying an additional 127 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $808.20, for a total transaction of $29,978,562.60. Following the sale, the executive vice president now owns 166,428 shares of the company’s stock, valued at $134,507,109.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Monolithic Power Systems news, EVP Saria Tseng sold 37,093 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $808.20, for a total value of $29,978,562.60. Following the transaction, the executive vice president now directly owns 166,428 shares of the company’s stock, valued at $134,507,109.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 728 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $566,667.92. Following the transaction, the chief financial officer now owns 64,178 shares in the company, valued at $49,955,513.42. The disclosure for this sale can be found here. Insiders sold a total of 106,215 shares of company stock worth $88,496,208 over the last three months. 3.20% of the stock is owned by company insiders.

Monolithic Power Systems Price Performance

NASDAQ MPWR traded up $4.07 on Friday, reaching $934.68. The company had a trading volume of 520,123 shares, compared to its average volume of 569,825. The firm has a market cap of $45.57 billion, a price-to-earnings ratio of 111.40, a P/E/G ratio of 4.32 and a beta of 1.11. Monolithic Power Systems, Inc. has a fifty-two week low of $392.10 and a fifty-two week high of $959.64. The business has a 50 day moving average of $850.14 and a two-hundred day moving average of $761.39.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The company had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Wall Street Analyst Weigh In

Several research analysts have commented on MPWR shares. Rosenblatt Securities boosted their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen raised their target price on shares of Monolithic Power Systems from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Truist Financial upped their price target on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, KeyCorp raised their price objective on Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $912.30.

About Monolithic Power Systems

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.