Allstate Corp Purchases New Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Allstate Corp purchased a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,427 shares of the semiconductor company’s stock, valued at approximately $844,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC grew its holdings in Monolithic Power Systems by 120.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock worth $26,000 after buying an additional 24 shares in the last quarter. OFI Invest Asset Management purchased a new position in Monolithic Power Systems during the 4th quarter worth $27,000. West Oak Capital LLC grew its stake in shares of Monolithic Power Systems by 990.9% in the 4th quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 545 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Monolithic Power Systems in the fourth quarter valued at about $39,000. Finally, AlphaQuest LLC bought a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $41,000. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Stock Up 0.0 %

NASDAQ MPWR opened at $579.98 on Tuesday. The company’s 50 day moving average is $636.20 and its 200-day moving average is $695.03. The firm has a market cap of $27.76 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 2.60 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.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 31st. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. Monolithic Power Systems’s payout ratio is presently 16.97%.

Insider Activity

In related news, EVP Maurice Sciammas sold 7,000 shares of the business’s stock in a transaction that occurred on 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 owns 16,015 shares of the company’s stock, valued at approximately $11,242,209.70. The trade was a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MPWR. Needham & Company LLC increased their price objective on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Loop Capital increased their price target on Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, February 7th. KeyCorp boosted their price objective on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Citigroup started coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They set a “buy” rating and a $700.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Monolithic Power Systems has a consensus rating of “Moderate Buy” and an average price target of $851.58.

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.