Renaissance Technologies LLC bought a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,086 shares of the semiconductor company’s stock, valued at approximately $9,380,000. Renaissance Technologies LLC owned 0.16% of Monolithic Power Systems at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Quantamental Technologies LLC raised its stake in shares of Monolithic Power Systems by 434.6% during the 2nd quarter. Quantamental Technologies LLC now owns 3,849 shares of the semiconductor company’s stock worth $523,000 after buying an additional 3,129 shares during the period. Pearl River Capital LLC acquired a new position in Monolithic Power Systems in the 2nd quarter valued at $25,000. LPL Financial LLC raised its stake in Monolithic Power Systems by 0.5% in the 2nd quarter. LPL Financial LLC now owns 13,232 shares of the semiconductor company’s stock valued at $1,797,000 after purchasing an additional 68 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Monolithic Power Systems by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 262,199 shares of the semiconductor company’s stock valued at $35,602,000 after purchasing an additional 5,935 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Monolithic Power Systems by 12.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 6,500 shares of the semiconductor company’s stock valued at $882,000 after purchasing an additional 696 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. BidaskClub raised Monolithic Power Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. Stifel Nicolaus increased their price objective on Monolithic Power Systems from $172.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Loop Capital assumed coverage on Monolithic Power Systems in a research note on Tuesday, June 18th. They issued a “buy” rating and a $144.00 price objective for the company. Finally, ValuEngine raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Monolithic Power Systems currently has a consensus rating of “Buy” and an average target price of $150.63.
Monolithic Power Systems (NASDAQ:MPWR) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.15). The company had revenue of $151.00 million during the quarter, compared to analysts’ expectations of $150.56 million. Monolithic Power Systems had a net margin of 17.51% and a return on equity of 16.60%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 2.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, September 27th. Monolithic Power Systems’s payout ratio is currently 66.95%.
In other news, CFO Theodore Blegen sold 905 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.56, for a total transaction of $126,301.80. Following the completion of the transaction, the chief financial officer now directly owns 92,790 shares in the company, valued at approximately $12,949,772.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Maurice Sciammas sold 7,979 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $131.09, for a total value of $1,045,967.11. Following the transaction, the vice president now owns 393,823 shares of the company’s stock, valued at $51,626,257.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,474 shares of company stock valued at $30,379,431. 3.00% of the stock is owned by company insiders.
Monolithic Power Systems Profile
Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.
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