Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 49.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297 shares of the semiconductor company’s stock after selling 296 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Monolithic Power Systems were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MPWR. BNP Paribas Financial Markets grew its holdings in Monolithic Power Systems by 95.1% during the 1st quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock worth $206,712,000 after acquiring an additional 148,771 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Monolithic Power Systems by 311.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock worth $153,319,000 after acquiring an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Monolithic Power Systems by 1,947.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock worth $117,826,000 after acquiring an additional 136,391 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Monolithic Power Systems by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 5,464,066 shares of the semiconductor company’s stock valued at $3,446,624,000 after buying an additional 90,589 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Monolithic Power Systems by 10.0% in the 4th quarter. Wellington Management Group LLP now owns 938,919 shares of the semiconductor company’s stock valued at $592,251,000 after buying an additional 85,676 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MPWR shares. Oppenheimer lifted their price target 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. Truist Financial reaffirmed a “buy” rating and issued a $994.00 price target (up from $918.00) on shares of Monolithic Power Systems in a report on Wednesday. TD Cowen raised shares of Monolithic Power Systems to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities lifted their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, September 27th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $959.90.

Monolithic Power Systems Trading Up 1.4 %

MPWR stock opened at $935.61 on Friday. The firm’s 50-day moving average is $879.02 and its two-hundred day moving average is $791.23. The company has a market capitalization of $45.54 billion, a price-to-earnings ratio of 111.51, a price-to-earnings-growth ratio of 4.13 and a beta of 1.11. Monolithic Power Systems, Inc. has a 52 week low of $392.10 and a 52 week high of $959.64.

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

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 59.59%.

Insider Transactions at Monolithic Power Systems

In other news, EVP Deming Xiao sold 10,000 shares of Monolithic Power Systems stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total value of $9,500,000.00. Following the transaction, the executive vice president now directly owns 29,714 shares of the company’s stock, valued at $28,228,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Monolithic Power Systems news, EVP Deming Xiao sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $950.00, for a total value of $9,500,000.00. Following the transaction, the executive vice president now owns 29,714 shares in the company, valued at approximately $28,228,300. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief financial officer now owns 64,178 shares in the company, valued at approximately $49,955,513.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,534 shares of company stock valued at $50,452,525 over the last ninety days. 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.