Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Corundum Group Inc.

Corundum Group Inc. cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 292 shares of the semiconductor company’s stock after selling 20 shares during the period. Corundum Group Inc.’s holdings in Monolithic Power Systems were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MPWR. Mather Group LLC. purchased a new stake in Monolithic Power Systems in the first quarter valued at $78,000. Riverview Trust Co purchased a new position in shares of Monolithic Power Systems during the 1st quarter worth $108,000. Wallace Advisory Group LLC increased its position in shares of Monolithic Power Systems by 10.5% during the 1st quarter. Wallace Advisory Group LLC now owns 527 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 50 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Monolithic Power Systems in the 1st quarter valued at about $269,000. Finally, SMI Advisory Services LLC acquired a new position in Monolithic Power Systems in the first quarter valued at about $4,160,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPWR has been the subject of a number of recent analyst reports. Raymond James lifted their price target on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research report 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 stock a “buy” rating in a research report on Monday, August 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $994.00 price objective (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $959.90.

Monolithic Power Systems Trading Down 0.2 %

Monolithic Power Systems stock opened at $916.29 on Monday. The firm has a market capitalization of $44.60 billion, a P/E ratio of 109.21, a P/E/G ratio of 4.33 and a beta of 1.11. Monolithic Power Systems, Inc. has a twelve month low of $392.10 and a twelve month high of $959.64. The stock’s fifty day simple moving average is $902.98 and its 200-day simple moving average is $810.11.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share 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 the consensus estimate of $490.66 million. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. Monolithic Power Systems’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. Sell-side 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 was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a yield of 0.55%. Monolithic Power Systems’s dividend payout ratio (DPR) is 59.59%.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $852.51, for a total value of $2,131,275.00. Following the sale, the chief financial officer now directly owns 64,906 shares of the company’s stock, valued at approximately $55,333,014.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the sale, the executive vice president now owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $852.51, for a total value of $2,131,275.00. Following the completion of the transaction, the chief financial officer now directly owns 64,906 shares of the company’s stock, valued at $55,333,014.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,136 shares of company stock worth $38,591,228 over the last 90 days. 3.20% of the stock is owned by insiders.

Monolithic Power Systems 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.