Procyon Advisors LLC Purchases 124 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Procyon Advisors LLC increased its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 38.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 444 shares of the semiconductor company’s stock after buying an additional 124 shares during the quarter. Procyon Advisors LLC’s holdings in Monolithic Power Systems were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MPWR. FMR LLC raised its position in shares of Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after buying an additional 361,416 shares during the last quarter. State Street Corp boosted its holdings in shares of Monolithic Power Systems by 2.1% during the 3rd quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after purchasing an additional 42,678 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Monolithic Power Systems by 11.2% in the third quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after purchasing an additional 133,838 shares during the last quarter. Van ECK Associates Corp lifted its position 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 worth $395,715,000 after buying an additional 93,362 shares in the last quarter. Finally, Barclays PLC boosted its stake in Monolithic Power Systems by 5.0% during the third quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock valued at $297,799,000 after buying an additional 15,350 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Trading Up 4.9 %

MPWR opened at $625.82 on Monday. The company has a market capitalization of $30.53 billion, a price-to-earnings ratio of 70.55, a PEG ratio of 2.26 and a beta of 1.03. Monolithic Power Systems, Inc. has a 12-month low of $546.71 and a 12-month high of $959.64. The business’s fifty day simple moving average is $599.06 and its 200-day simple moving average is $774.35.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results 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 net margin of 21.29% and a return on equity of 20.44%. The business had revenue of $620.12 million for the quarter, compared to analysts’ expectations of $600.10 million. On average, equities research analysts predict that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.00 annualized dividend and a yield of 0.80%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company began coverage on Monolithic Power Systems in a report on Friday, November 22nd. They set an “equal weight” rating and a $610.00 price objective on the stock. Needham & Company LLC lowered their price objective on shares of Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Citigroup initiated coverage on shares of Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a research report on Wednesday, October 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $900.00 target price on shares of Monolithic Power Systems in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $828.67.

Insider Activity

In related news, EVP Deming Xiao sold 866 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.14, for a total transaction of $662,611.24. Following the completion of the sale, the executive vice president now owns 162,239 shares of the company’s stock, valued at $124,135,548.46. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $772.96, for a total transaction of $1,932,400.00. Following the completion of the sale, the chief financial officer now owns 56,678 shares of the company’s stock, valued at approximately $43,809,826.88. This trade represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,600 shares of company stock worth $4,656,631. 3.70% of the stock is currently owned by company insiders.

About Monolithic Power Systems

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.