4. Monolithic Power Systems, Inc. (NASDAQ:MPWR)
Cavalry Asset Management’s Stake Value: $61,216,000
Percentage of Cavalry Asset Management’s 13F Portfolio: 5.71%
Number of Hedge Fund Holders: 36
Monolithic Power Systems, Inc. (NASDAQ:MPWR) develops, produces, and sells semiconductor-based power electronics solutions for the computer and storage, automotive, industrial, communications, and consumer industries. Whale Rock Capital Management holds the most prominent stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR), with 729,061 shares worth $279.99 million.
On October 28, Raymond James analyst Melissa Fairbanks maintained an ‘Outperform’ rating on Monolithic Power Systems, Inc. (NASDAQ:MPWR) while trimming her price objective from $570 to $400. Even though new auto sector engagements helped Q3 earnings above estimates, Fairbanks cautioned investors in a research note that the collapse of the consumer and computing industries is drastically lowering near-term prospects.
Insider Monkey hedge fund database reveals that in the first quarter of 2022, 29 hedge funds were bullish on Monolithic Power Systems, Inc. (NASDAQ:MPWR). However, in the second quarter of 2022, the number increased to 36 hedge funds.
According to the 13F filings for the second quarter of 2022, Cavalry Asset Management held 159,401 shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR), amounting to $61.22 million. Monolithic Power Systems, Inc. (NASDAQ:MPWR) was the fourth-largest holding of the hedge fund and represented 5.71% of its 13F portfolio in the second quarter of 2022.
In its Q2 2022 investor letter, Artisan Partners mentioned Monolithic Power Systems, Inc. (NASDAQ:MPWR). Here is what the fund said:
“Monolithic Power Systems, Inc. (NASDAQ:MPWR) designs analog power-management chips for a wide variety of industrial and consumer devices. The paths of the company’s profit cycle and share price have diverged this year. Investors have rotated out of high-growth stocks with elevated multiples, raised concerns about the company potentially facing headwinds from China COVID-19 lockdowns and a potential recession. Meanwhile, the company’s recent quarterly results and outlook helped dispel some of these fears. Monolithic reported 48% revenue growth and issued guidance for the following quarter well ahead of expectations. There are COVID-related impacts in China, but we are monitoring them closely, and we believe the company can continue to navigate them over modest durations. Based on its unique ability to offer highly integrated solutions and solve complex power management issues across multiple end-applications, we believe the company is well-positioned to continue to drive its ongoing profit cycle in the periods ahead.”
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