Baron Funds, an investment management firm, released its “Baron Durable Advantage Fund” first quarter 2023 investor letter, a copy of which can be downloaded here. The Baron Durable Advantage Fund gained 16.0% during the first quarter, compared favorably to its S&P 500 benchmark which earned a 7.5% return for the same period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q1 2023 investor letter, Baron Durable Advantage Fund mentioned Monolithic Power Systems, Inc. (NASDAQ:MPWR) and explained its insights for the company. Founded in 1997, Monolithic Power Systems, Inc. (NASDAQ:MPWR) is a Kirkland, Washington-based power electronics solutions provider with a $25.5 billion market capitalization. Monolithic Power Systems, Inc. (NASDAQ:MPWR) delivered a 52.44% return since the beginning of the year, while its 12-month returns are up by 32.39%. The stock closed at $526.22 per share on June 12, 2023.
Here is what Baron Durable Advantage Fund has to say about Monolithic Power Systems, Inc. (NASDAQ:MPWR) in its Q1 2023 investor letter:
“Monolithic Power Systems, Inc. is a fabless high-performance analog and power semiconductor company serving diverse end markets across the semiconductor industry. The company, a relatively small player in the industry, leverages its deep system-level and applications knowledge, strong design experience, and innovative process technologies to provide highly integrated, energy-efficient, cost-effective, and easy-to-use monolithic products. Shares rose 41.8% during the quarter as the company delivered solid financial results with revenues up 37% year-over-year and EPS up 50% year-over-year while also providing a favorable outlook driven by share gains across key end markets, including automotive and data center. Investor anticipation of a broader semiconductor industry recovery into the second half of 2023 also helped boost shares. The company continues to expand its addressable market and drive strong revenue growth by taking advantage of areas where its competition has failed to innovate. It has also started to sell more integrated, higher-ASP module products as opposed to discrete products, generating additional above-market growth.”
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Our calculations show that Monolithic Power Systems, Inc. (NASDAQ:MPWR) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. Monolithic Power Systems, Inc. (NASDAQ:MPWR) was in 42 hedge fund portfolios at the end of the first quarter of 2023, compared to 30 funds in the previous quarter. Monolithic Power Systems, Inc. (NASDAQ:MPWR) delivered a 9.18% return in the past 3 months.
Earlier this month, we also shared another hedge fund’s views on Monolithic Power Systems, Inc. (NASDAQ:MPWR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q1 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
