NewEdge Wealth LLC purchased a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,264 shares of the semiconductor company's stock, valued at approximately $47,366,000. NewEdge Wealth LLC owned about 0.07% of Monolithic Power Systems as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Monolithic Power Systems by 46.0% during the 4th quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after buying an additional 200 shares during the last quarter. Empowered Funds LLC grew its position in shares of Monolithic Power Systems by 3.1% during the first quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company's stock worth $3,088,000 after buying an additional 161 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Monolithic Power Systems by 3.5% in the second quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company's stock worth $6,863,000 after buying an additional 314 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Monolithic Power Systems by 35.2% in the second quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company's stock worth $26,175,000 after buying an additional 9,315 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Monolithic Power Systems in the second quarter valued at $347,000. Institutional investors and hedge funds own 93.46% of the company's stock.
Insider Buying and Selling at Monolithic Power Systems
In other Monolithic Power Systems news, EVP Saria Tseng sold 7,565 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $1,700.00, for a total value of $12,860,500.00. Following the completion of the transaction, the executive vice president directly owned 144,218 shares in the company, valued at $245,170,600. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kuo Wei Herbert Chang sold 50 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,420.00, for a total value of $71,000.00. Following the transaction, the director directly owned 565 shares of the company's stock, valued at $802,300. This trade represents a 8.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,191 shares of company stock worth $21,807,015 in the last ninety days. Insiders own 3.60% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on MPWR shares. Truist Financial increased their price objective on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Zacks Research raised shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 18th. Citigroup restated a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. TD Cowen increased their price target on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Needham & Company LLC lifted their price target on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,705.82.
Check Out Our Latest Stock Analysis on Monolithic Power Systems
Monolithic Power Systems Price Performance
Monolithic Power Systems stock opened at $1,300.14 on Thursday. The company has a market cap of $63.89 billion, a PE ratio of 79.71 and a beta of 1.69. The company has a fifty day moving average price of $1,384.18 and a two-hundred day moving average price of $1,344.93. Monolithic Power Systems, Inc. has a 12 month low of $800.97 and a 12 month high of $1,714.09.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company had revenue of $980.64 million for the quarter, compared to analysts' expectations of $903.30 million. During the same period in the prior year, the company earned $4.21 earnings per share. The firm's revenue was up 47.6% compared to the same quarter last year. Equities research analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.
Monolithic Power Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems's dividend payout ratio is currently 49.05%.
Monolithic Power Systems Profile
(
Free Report)
Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.
MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.
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