Illinois Municipal Retirement Fund Sells 615 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,926 shares of the semiconductor company’s stock after selling 615 shares during the period. Illinois Municipal Retirement Fund’s holdings in Monolithic Power Systems were worth $10,015,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MPWR. FMR LLC boosted its position in 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 purchasing an additional 361,416 shares during the last quarter. State Street Corp raised its stake 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 worth $1,930,301,000 after purchasing an additional 42,678 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after buying an additional 133,838 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Monolithic Power Systems by 73.3% in the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock valued at $459,174,000 after buying an additional 328,203 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Monolithic Power Systems by 11.6% during the fourth quarter. Bank of New York Mellon Corp now owns 349,922 shares of the semiconductor company’s stock worth $207,049,000 after buying an additional 36,323 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

MPWR stock opened at $651.32 on Wednesday. Monolithic Power Systems, Inc. has a fifty-two week low of $546.71 and a fifty-two week high of $959.64. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.60 and a beta of 1.03. The business’s fifty day moving average price is $638.72 and its two-hundred day moving average price is $743.91.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. Research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.56 dividend. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, March 31st. Monolithic Power Systems’s payout ratio is 16.97%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup started coverage on shares of Monolithic Power Systems in a research note on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price target for the company. Wells Fargo & Company lifted their price target on 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 dropped their price objective on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Needham & Company LLC raised their price objective on Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Loop Capital boosted their target price on Monolithic Power Systems from $660.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $866.17.

Insider Buying and Selling

In related news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 53,444 shares of the company’s stock, valued at $32,066,400. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Maurice Sciammas sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the completion of the transaction, the executive vice president now directly owns 16,015 shares in the company, valued at approximately $11,242,209.70. This represents a 30.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.