Hartford Investment Management Co. reduced its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Get Rating ) by 7.1% during the first quarter, HoldingsChannel reports. The firm owned 4,096 shares of the semiconductor company’s stock after selling 311 shares during the period. Hartford Investment Management Co.’s holdings. in Monolithic Power Systems were worth $1,989,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of MPWR. Quent Capital LLC purchased a new position in Monolithic Power Systems in the fourth quarter valued at $36,000. Sageworth Trust Co of South Dakota purchased a new stake in Monolithic Power Systems in the fourth quarter valued at $43,000. Concord Wealth Partners increased its holdings in Monolithic Power Systems by 1583.3% in the 4th quarter. Concord Wealth Partners now owns 101 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 95 shares during the period. Covestor Ltd bought a new position in shares of Monolithic Power Systems in the 4th quarter valued at about $51,000. Finally, PFG Private Wealth Management LLC acquired a new position in shares of Monolithic Power Systems in the 4th quarter valued at about $85,000 .Institutional investors own 94.02% of the company’s shares.
Several equities analysts recently commented on MPWR shares. KeyCorp upped their target price on Monolithic Power Systems from $520.00 to $570.00 in a research note on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monolithic Power Systems from $510.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, April 20th. StockNews.com initiated coverage on shares of Monolithic Power Systems in a research note on Thursday, March 31st. They assign a “hold” rating to the stock. Finally, Truist Financial cut their target price on shares of Monolithic Power Systems from $568.00 to $545.00 in a report on Friday, April 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and an average target price of $555.25, according to MarketBeat.
In other Monolithic Power Systems news, VP Saria Tseng sold 986 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $453.16, for a total value of $446,815.76. Following the completion of the sale, the vice president now directly owns 270,178 shares of the company’s stock, valued at approximately $122,433,862.48. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, CFO Theodore Blegen sold 850 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $453.16, for a total transaction of $385,186.00. Following the transaction, the chief financial officer now directly owns 131,388 shares in the company, valued at approximately $59,539,786.08. Disclosure of this sale can be found here. Insiders have sold a total of 9,941 shares of company stock valued at $4,243,851 over the last three months. Corporate insiders own 2.00% of the company’s shares.
NASDAQ MPWR opened at $364.95 on Monday. The company has a market cap of $17.02 billion, a P/E ratio of 63.36, a PEG ratio of 1.68 and a beta of 1.05. The company has a fifty day simple moving average of $420.19 and a 200 day simple moving average of $433.98. Monolithic Power Systems, Inc. has a 12-month low of $351.21 and a 12-month high of $580.00.
Monolithic Power Systems (NASDAQ:MPWR – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The semiconductor company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Monolithic Power Systems had a net margin of 20.75% and a return on equity of 22.80%. The firm had revenue of $377.71 million during the quarter, compared to analysts’ expectations of $360.26 million. During the same period last year, the company earned $0.86 earnings per share. As a group, sell-side analysts expect that Monolithic Power Systems, Inc. will post 8.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.75 per share. This represents a dividend of $3.00 per year and a yield of 0.82%. The ex-dividend date is Wednesday, June 29th. Monolithic Power Systems’s dividend payout ratio is currently 52.08%.
About monolithic energy systems (Get Rating)
Monolithic Power Systems, Inc designs, develops, markets and sells semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications and consumer markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control the voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers and notebooks, monitors, information- entertainment applications and medical equipment.
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