Solid Execution Pushed Monolithic Power Systems (MPWR) in Q4
Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio had a positive absolute return in Q4 but underperformed the Russell 2000 Growth Index due to security selection, particularly in the healthcare and information technology sectors. In the fourth quarter, its Investor Class fund ARTSX returned 9.18%, Advisor Class fund APDSX posted a return of 9.26%, and Institutional Class fund APHSX returned 9.28%, compared to a return of 12.75% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund featured stocks like Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the Q4 2023 investor letter. Headquartered in Kirkland, Washington, Monolithic Power Systems, Inc. (NASDAQ:MPWR) designs and develops semiconductor-based power electronics solutions. On March 8, 2024, Monolithic Power Systems, Inc. (NASDAQ:MPWR) stock closed at $732.21 per share. One-month return of Monolithic Power Systems, Inc. (NASDAQ:MPWR) was 0.32%, and its shares gained 50.57% of their value over the last 52 weeks. Monolithic Power Systems, Inc. (NASDAQ:MPWR) has a market capitalization of $35.63 billion.
Artisan Small Cap Fund stated the following regarding Monolithic Power Systems, Inc. (NASDAQ:MPWR) in its fourth quarter 2023 investor letter:
"Among our top contributors in Q4 were Wingstop, Monolithic Power Systems, Inc. (NASDAQ:MPWR) and Ascendis. Monolithic Power Systems designs analog power-management chips for a wide variety of industrial and consumer devices. The company is executing well, as its customers convert their analog, digital and power semiconductor chips into the company’s single-chip design, which is energy efficient and priced lower than peers. While we acknowledge certain areas of the business may be a source of weakness in the near term, recent earnings results indicated that the data center and automotive areas of the business continue to deliver solid results. We trimmed the position due to market cap. We first purchased Monolithic Power at the beginning of 2018 when it was a $4.8 billion company. After a successful multiyear campaign, the company has grown to a market cap in excess of $30 billion and is outgrowing our small-cap mandate."
An engineer examining a DC to DC integrated circuit board, looking for any flaws.
Monolithic Power Systems, Inc. (NASDAQ:MPWR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Monolithic Power Systems, Inc. (NASDAQ:MPWR) was held by 35 hedge fund portfolios, up from 29 in the previous quarter, according to our database.
We discussed Monolithic Power Systems, Inc. (NASDAQ:MPWR) in another article and shared the list of most valuable semiconductor companies in the world. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
