2,302 Monolithic Power Systems, Inc. $MPWR Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 29.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,166 shares of the semiconductor company’s stock after purchasing an additional 2,302 shares during the period. Cornerstone Advisors LLC’s holdings in Monolithic Power Systems were worth $13,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Monolithic Power Systems during the 2nd quarter worth approximately $7,727,289,000. State Street Corp boosted its position in 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 buying an additional 93,732 shares in the last quarter. Van ECK Associates Corp boosted its position in 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 buying an additional 221,666 shares in the last quarter. Bank of America Corp DE acquired a new stake in Monolithic Power Systems in the second quarter valued at approximately $741,271,000. Finally, Royal Bank of Canada grew its stake in shares of Monolithic Power Systems by 168.1% during the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock worth $517,557,000 after buying an additional 296,788 shares during the last quarter. 93.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MPWR. Rosenblatt Securities upgraded shares of Monolithic Power Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1,575.00 to $1,700.00 in a report on Friday, October 30th. KeyCorp raised their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wall Street Zen raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. Needham & Company LLC restated a “buy” rating on shares of Monolithic Power Systems in a research report on Friday, October 30th. Finally, Oppenheimer lowered their target price on Monolithic Power Systems from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $1,783.77.

Monolithic Power Systems Stock Performance

MPWR stock opened at $1,390.54 on Friday. The company has a market capitalization of $67.82 billion, a P/E ratio of 76.78 and a beta of 1.71. The company has a fifty day moving average price of $1,284.98 and a 200-day moving average price of $1,324.28. Monolithic Power Systems, Inc. has a 52-week low of $833.18 and a 52-week high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $8.19 earnings per share for the quarter, topping the consensus estimate of $7.79 by $0.40. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Monolithic Power Systems had a net margin of 23.85% and a return on equity of 25.23%. Monolithic Power Systems’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.73 earnings per share. As a group, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 23.72 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems’s payout ratio is presently 44.17%.

Insider Transactions at Monolithic Power Systems

In other news, CFO Frank Anthony Balow III sold 20 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $1,434.31, for a total value of $28,686.20. Following the completion of the sale, the chief financial officer owned 2,921 shares of the company’s stock, valued at approximately $4,189,619.51. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 515 shares of the company’s stock, valued at $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.60% of the company’s stock.

Monolithic Power Systems Company Profile

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. MPS sells to customers around the world through direct sales and distribution channels.