Mackenzie Financial Corp Has $3.24 Million Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Mackenzie Financial Corp decreased its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 16.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,948 shares of the semiconductor company’s stock after selling 774 shares during the period. Mackenzie Financial Corp’s holdings in Monolithic Power Systems were worth $3,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MPWR. Advisory Services Network LLC acquired a new position in Monolithic Power Systems in the fourth quarter valued at $228,000. Parallel Advisors LLC raised its holdings in shares of Monolithic Power Systems by 11.0% during the fourth quarter. Parallel Advisors LLC now owns 263 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 26 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $210,000. Bank of Nova Scotia raised its holdings in shares of Monolithic Power Systems by 52.2% during the fourth quarter. Bank of Nova Scotia now owns 6,544 shares of the semiconductor company’s stock valued at $4,128,000 after purchasing an additional 2,244 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Monolithic Power Systems by 2.5% during the fourth quarter. California State Teachers Retirement System now owns 70,212 shares of the semiconductor company’s stock valued at $44,288,000 after purchasing an additional 1,680 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MPWR shares. Oppenheimer upped their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Needham & Company LLC upped their price objective on shares of Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, August 5th. KeyCorp upped their price objective on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $952.30.

Monolithic Power Systems Price Performance

NASDAQ:MPWR opened at $891.81 on Wednesday. Monolithic Power Systems, Inc. has a one year low of $392.10 and a one year high of $959.64. The firm has a 50-day moving average of $870.56 and a 200-day moving average of $785.13. The company has a market cap of $43.41 billion, a PE ratio of 106.29, a PEG ratio of 4.13 and a beta of 1.12.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data 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. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The business had revenue of $507.40 million during the quarter, compared to the consensus estimate of $490.66 million. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts expect 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 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, September 30th. Monolithic Power Systems’s payout ratio is 59.59%.

Insiders Place Their Bets

In other Monolithic Power Systems news, CFO Theodore Blegen sold 728 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $566,667.92. Following the transaction, the chief financial officer now directly owns 64,178 shares in the company, valued at $49,955,513.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Theodore Blegen sold 728 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total transaction of $566,667.92. Following the sale, the chief financial officer now directly owns 64,178 shares in the company, valued at approximately $49,955,513.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deming Xiao sold 9,259 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the sale, the executive vice president now owns 20,455 shares in the company, valued at $19,432,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,034 shares of company stock valued at $48,181,625. Corporate insiders own 3.20% of the company’s stock.

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.