Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 33.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 493 shares of the semiconductor company’s stock after selling 249 shares during the period. Covenant Asset Management LLC’s holdings in Monolithic Power Systems were worth $292,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Monolithic Power Systems by 6.6% during the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after acquiring an additional 1,082 shares in the last quarter. EULAV Asset Management grew its holdings in Monolithic Power Systems by 8.6% during the 3rd quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock worth $100,099,000 after acquiring an additional 8,600 shares in the last quarter. Paragon Advisors LLC grew its holdings in Monolithic Power Systems by 140.6% during the 4th quarter. Paragon Advisors LLC now owns 5,128 shares of the semiconductor company’s stock worth $3,034,000 after acquiring an additional 2,997 shares in the last quarter. Empowered Funds LLC grew its holdings in Monolithic Power Systems by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock worth $3,741,000 after acquiring an additional 909 shares in the last quarter. Finally, Perpetual Ltd grew its holdings in Monolithic Power Systems by 1,042.4% during the 4th quarter. Perpetual Ltd now owns 2,936 shares of the semiconductor company’s stock worth $1,737,000 after acquiring an additional 2,679 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on MPWR. Wells Fargo & Company raised their price objective on shares of Monolithic Power Systems from $610.00 to $710.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Oppenheimer reduced their price target on shares of Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Citigroup began coverage on shares of Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price target on the stock. KeyCorp raised their price target on shares of Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, TD Cowen reduced 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 report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Monolithic Power Systems presently has an average rating of “Moderate Buy” and an average price target of $866.17.

Monolithic Power Systems Trading Down 2.2 %

NASDAQ MPWR opened at $684.93 on Friday. The company has a fifty day simple moving average of $630.25 and a 200 day simple moving average of $750.84. The company has a market cap of $33.41 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.53 and a beta of 1.03. Monolithic Power Systems, Inc. has a 1 year low of $546.71 and a 1 year high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 22.49%. Equities research analysts forecast that Monolithic Power Systems, Inc. will post 13 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.56 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a yield of 0.91%. Monolithic Power Systems’s dividend payout ratio is 13.60%.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $701.98, for a total value of $4,913,860.00. Following the completion of the sale, the executive vice president now directly owns 16,015 shares of the company’s stock, valued at $11,242,209.70. This represents a 30.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer now owns 53,444 shares of the company’s stock, valued at approximately $32,066,400. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

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.