Everence Capital Management Inc. Takes $795,000 Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Everence Capital Management Inc. bought a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,260 shares of the semiconductor company’s stock, valued at approximately $795,000.

Several other institutional investors have also added to or reduced their stakes in MPWR. Moneta Group Investment Advisors LLC boosted its holdings in shares of Monolithic Power Systems by 140,338.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,023,797 shares of the semiconductor company’s stock worth $362,025,000 after buying an additional 1,023,068 shares in the last quarter. FMR LLC boosted its holdings in shares of Monolithic Power Systems by 35.0% during the 3rd quarter. FMR LLC now owns 3,583,803 shares of the semiconductor company’s stock worth $1,655,717,000 after buying an additional 929,009 shares in the last quarter. Norges Bank bought a new position in shares of Monolithic Power Systems during the 4th quarter worth approximately $150,233,000. JPMorgan Chase & Co. boosted its holdings in shares of Monolithic Power Systems by 70.4% during the 1st quarter. JPMorgan Chase & Co. now owns 671,820 shares of the semiconductor company’s stock worth $336,272,000 after buying an additional 277,563 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Monolithic Power Systems by 87.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 387,523 shares of the semiconductor company’s stock worth $179,036,000 after buying an additional 180,500 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MPWR. KeyCorp increased their price target on Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC lifted their price objective on Monolithic Power Systems from $500.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Rosenblatt Securities lifted their price objective on Monolithic Power Systems from $550.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th. TD Cowen lifted their price objective on Monolithic Power Systems from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Oppenheimer boosted their price objective on Monolithic Power Systems from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $670.30.

Insider Activity at Monolithic Power Systems

In related news, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $602.01, for a total transaction of $4,816,080.00. Following the completion of the transaction, the chief executive officer now owns 921,774 shares in the company, valued at $554,917,165.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $681.83, for a total transaction of $7,500,130.00. Following the completion of the transaction, the executive vice president now owns 130,744 shares in the company, valued at $89,145,181.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Hsing sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $602.01, for a total value of $4,816,080.00. Following the transaction, the chief executive officer now owns 921,774 shares of the company’s stock, valued at approximately $554,917,165.74. The disclosure for this sale can be found here. Insiders sold a total of 45,077 shares of company stock worth $30,357,479 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $637.72 on Thursday. Monolithic Power Systems, Inc. has a fifty-two week low of $383.19 and a fifty-two week high of $778.15. The stock has a 50 day moving average price of $697.55 and a two-hundred day moving average price of $601.37. The company has a market capitalization of $31.03 billion, a P/E ratio of 72.80, a PEG ratio of 3.51 and a beta of 1.24.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a net margin of 23.47% and a return on equity of 22.66%. The company had revenue of $454.01 million during the quarter, compared to the consensus estimate of $452.13 million. As a group, equities analysts predict that Monolithic Power Systems, Inc. will post 10.05 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.00 annualized dividend and a yield of 0.78%. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. Monolithic Power Systems’s payout ratio is presently 57.08%.

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.