Oppenheimer Asset Management Inc. Has $2 Million Stock Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Oppenheimer Asset Management Inc. cut its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 39.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,165 shares of the semiconductor company’s stock after selling 1,386 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Monolithic Power Systems were worth $2,002,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of 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 purchasing an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Monolithic Power Systems by 1,947.1% during the second quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock worth $117,826,000 after buying an additional 136,391 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Monolithic Power Systems by 92,842.9% during the third quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after buying an additional 123,481 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Monolithic Power Systems by 26.3% in the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after acquiring an additional 93,362 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Monolithic Power Systems by 364.2% in the 2nd quarter. National Bank of Canada FI now owns 85,960 shares of the semiconductor company’s stock worth $70,435,000 after acquiring an additional 67,444 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Performance

MPWR opened at $573.38 on Friday. The company has a fifty day moving average price of $856.47 and a two-hundred day moving average price of $827.10. The firm has a market capitalization of $27.97 billion, a PE ratio of 64.64, a P/E/G ratio of 2.86 and a beta of 1.15. Monolithic Power Systems, Inc. has a 52 week low of $532.86 and a 52 week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The company had revenue of $620.12 million for the quarter, compared to analyst estimates of $600.10 million. Equities analysts forecast that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.87%. Monolithic Power Systems’s dividend payout ratio is 56.37%.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $908.36, for a total transaction of $2,270,900.00. Following the sale, the chief financial officer now owns 59,178 shares of the company’s stock, valued at approximately $53,754,928.08. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deming Xiao sold 9,259 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total value of $8,796,050.00. Following the completion of the transaction, the executive vice president now directly owns 20,455 shares of the company’s stock, valued at approximately $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,359 shares of company stock valued at $36,209,571 in the last 90 days. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a report on Monday, November 11th. KeyCorp lifted their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Truist Financial reaffirmed a “buy” rating and issued a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Finally, TD Cowen decreased their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $916.73.

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.