State Street Corp boosted its position in shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) by 1.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 848,092 shares of the company’s stock after buying an additional 11,822 shares during the period. State Street Corp owned 2.14% of Monolithic Power Systems worth $53,969,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. RS Investment Management Co. LLC raised its position in Monolithic Power Systems by 23.7% in the fourth quarter. RS Investment Management Co. LLC now owns 2,114,648 shares of the company’s stock worth $134,724,000 after buying an additional 405,300 shares in the last quarter. Norges Bank bought a new position in Monolithic Power Systems during the fourth quarter worth $19,578,000. Fiduciary Management Associates LLC bought a new position in Monolithic Power Systems during the fourth quarter worth $17,412,000. Zevenbergen Capital Investments LLC raised its position in Monolithic Power Systems by 3,524.6% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 205,695 shares of the company’s stock worth $13,105,000 after buying an additional 200,020 shares in the last quarter. Finally, Waddell & Reed Financial Inc. bought a new position in Monolithic Power Systems during the fourth quarter worth $11,799,000.
Shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) traded up 0.20% during trading on Wednesday, hitting $73.94. The stock had a trading volume of 392,197 shares. The firm has a market capitalization of $2.98 billion and a P/E ratio of 77.02. Monolithic Power Systems Inc. has a 1-year low of $40.75 and a 1-year high of $74.84. The stock’s 50-day moving average price is $69.20 and its 200 day moving average price is $63.69.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.08%.
A number of brokerages recently commented on MPWR. Needham & Company LLC reiterated a “buy” rating and set a $76.00 price target (up from $68.00) on shares of Monolithic Power Systems in a report on Wednesday. Stifel Nicolaus lifted their price target on Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Zacks Investment Research lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Monolithic Power Systems in a report on Monday, June 6th. Finally, Deutsche Bank AG lifted their price target on Monolithic Power Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.63.
In related news, Director Victor K. Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $65.44, for a total value of $654,400.00. Following the transaction, the director now directly owns 27,796 shares of the company’s stock, valued at approximately $1,818,970.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Saria Tseng sold 5,630 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $65.00, for a total value of $365,950.00. Following the completion of the transaction, the vice president now directly owns 280,412 shares in the company, valued at $18,226,780. The disclosure for this sale can be found here.
Monolithic Power Systems, Inc provides integrated power solutions. The Company provides power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS can be contacted through its Website at www.monolithicpower.com or its support offices around the world.
