Kayne Anderson Rudnick Investment Management LLC Increases Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Kayne Anderson Rudnick Investment Management LLC raised its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,979 shares of the semiconductor company’s stock after acquiring an additional 34,557 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.57% of Monolithic Power Systems worth $226,767,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Monolithic Power Systems in the second quarter valued at $25,000. RiverPark Advisors LLC purchased a new position in shares of Monolithic Power Systems during the first quarter valued at $27,000. Atwood & Palmer Inc. acquired a new position in shares of Monolithic Power Systems in the 2nd quarter valued at about $33,000. Crewe Advisors LLC lifted its position in Monolithic Power Systems by 126.3% in the 2nd quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock worth $35,000 after buying an additional 24 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Monolithic Power Systems during the second quarter valued at $36,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Activity

In related news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the completion of the sale, the chief financial officer now directly owns 61,678 shares in the company, valued at $55,769,247.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the completion of the sale, the chief financial officer now owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deming Xiao sold 3,205 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $831.58, for a total transaction of $2,665,213.90. Following the completion of the transaction, the executive vice president now owns 203,213 shares in the company, valued at approximately $168,987,866.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,299 shares of company stock valued at $83,140,933. Insiders own 3.20% of the company’s stock.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock opened at $891.32 on Friday. The company’s 50 day moving average price is $862.05 and its two-hundred day moving average price is $776.26. The firm has a market capitalization of $43.39 billion, a P/E ratio of 106.24, a P/E/G ratio of 4.14 and a beta of 1.12. Monolithic Power Systems, Inc. has a fifty-two week low of $392.10 and a fifty-two week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The business had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, analysts expect that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 59.59%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MPWR. Deutsche Bank Aktiengesellschaft increased their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James boosted their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC raised their price target on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Rosenblatt Securities raised their price target on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $912.30.

Monolithic Power Systems Company 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.