Municipal Employees Retirement System of Michigan Trims Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Municipal Employees Retirement System of Michigan cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,520 shares of the semiconductor company’s stock after selling 3,130 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Monolithic Power Systems were worth $1,227,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Frontier Capital Management Co. LLC grew its stake in Monolithic Power Systems by 98.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,162,553 shares of the semiconductor company’s stock valued at $112,070,000 after acquiring an additional 577,248 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Monolithic Power Systems by 166.3% during the second quarter. Franklin Resources Inc. now owns 799,631 shares of the semiconductor company’s stock worth $77,086,000 after buying an additional 499,387 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Monolithic Power Systems by 14,285.8% during the second quarter. Harbour Capital Advisors LLC now owns 467,540 shares of the semiconductor company’s stock worth $4,850,000 after buying an additional 464,290 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Monolithic Power Systems by 259.3% during the second quarter. Goldman Sachs Group Inc. now owns 376,246 shares of the semiconductor company’s stock worth $36,270,000 after buying an additional 271,527 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Monolithic Power Systems by 32.4% during the second quarter. Alliancebernstein L.P. now owns 506,976 shares of the semiconductor company’s stock worth $48,872,000 after buying an additional 123,977 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Monolithic Power Systems, Inc. (MPWR) remained flat at $$111.24 on Wednesday. 256,590 shares of the company traded hands, compared to its average volume of 276,001. The company has a market capitalization of $4,616.68, a price-to-earnings ratio of 67.39, a PEG ratio of 3.44 and a beta of 1.26. Monolithic Power Systems, Inc. has a 1-year low of $77.45 and a 1-year high of $126.80.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Monolithic Power Systems had a return on equity of 15.40% and a net margin of 15.66%. The business had revenue of $128.90 million during the quarter, compared to analysts’ expectations of $126.11 million. During the same period last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. research analysts predict that Monolithic Power Systems, Inc. will post 1.8 earnings per share for the current year.

MPWR has been the topic of a number of research reports. Oppenheimer boosted their price objective on Monolithic Power Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Deutsche Bank upped their price target on Monolithic Power Systems from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut Monolithic Power Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 29th. KeyCorp restated a “buy” rating and set a $115.00 target price on shares of Monolithic Power Systems in a report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $117.00 price target on shares of Monolithic Power Systems in a research note on Sunday, September 3rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $129.25.

In related news, VP Maurice Sciammas sold 1,693 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $104.09, for a total transaction of $176,224.37. Following the transaction, the vice president now directly owns 367,695 shares of the company’s stock, valued at approximately $38,273,372.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Theodore Blegen sold 459 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $117.91, for a total value of $54,120.69. Following the transaction, the chief financial officer now directly owns 40,336 shares in the company, valued at $4,756,017.76. The disclosure for this sale can be found here. Insiders have sold a total of 97,994 shares of company stock worth $11,490,773 in the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/12/06/monolithic-power-systems-inc-mpwr-holdings-trimmed-by-municipal-employees-retirement-system-of-michigan.html.

About Monolithic Power Systems

Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company operates in the design, development, marketing and sale of power solutions for the communications, storage and computing, consumer and industrial markets segment.

Institutional Ownership by Quarter for Monolithic Power Systems (NASDAQ:MPWR)

Receive News & Ratings for Monolithic Power Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monolithic Power Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply