State of Michigan Retirement System Trims Stock Position in Monolithic Power Systems, Inc. $MPWR

State of Michigan Retirement System lessened its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,811 shares of the semiconductor company’s stock after selling 1,159 shares during the period. State of Michigan Retirement System’s holdings in Monolithic Power Systems were worth $17,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MPWR. IFP Advisors Inc grew its holdings in Monolithic Power Systems by 171.4% during the third quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 24 shares during the period. Covestor Ltd boosted its position in Monolithic Power Systems by 29.0% in the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 9 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Monolithic Power Systems during the 4th quarter worth approximately $38,000. Sunbelt Securities Inc. grew its stake in shares of Monolithic Power Systems by 233.3% during the 1st quarter. Sunbelt Securities Inc. now owns 40 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 28 shares during the period. Finally, Essential Partners LLC increased its holdings in shares of Monolithic Power Systems by 30.3% during the 1st quarter. Essential Partners LLC now owns 43 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Buying and Selling

In other news, EVP Maurice Sciammas sold 30 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the transaction, the executive vice president directly owned 1,119 shares in the company, valued at $1,503,868.86. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Herbert Chang sold 50 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,420.00, for a total value of $71,000.00. Following the completion of the sale, the director owned 565 shares of the company’s stock, valued at $802,300. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,191 shares of company stock valued at $21,807,015. 3.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MPWR has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research raised shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 18th. Raymond James Financial reiterated an “outperform” rating on shares of Monolithic Power Systems in a research report on Wednesday. Weiss Ratings lowered shares of Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Finally, Needham & Company LLC raised their target price on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems presently has an average rating of “Moderate Buy” and a consensus target price of $1,705.82.

Monolithic Power Systems Stock Up 2.9%

Shares of NASDAQ MPWR opened at $1,402.01 on Friday. The firm has a 50-day simple moving average of $1,394.48 and a 200-day simple moving average of $1,338.74. The stock has a market capitalization of $68.90 billion, a price-to-earnings ratio of 85.96 and a beta of 1.69. Monolithic Power Systems, Inc. has a 52 week low of $800.97 and a 52 week high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping analysts’ consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The firm had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. During the same period in the previous year, the business posted $4.21 earnings per share. Monolithic Power Systems’s quarterly revenue was up 47.6% on a year-over-year basis. As a group, equities research analysts expect that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is 49.05%.

About Monolithic Power Systems

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.