5,581 Monolithic Power Systems, Inc. $MPWR Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its Monolithic Power Systems stake by 25.8%, selling 5,581 shares in the third quarter and retaining 16,082 shares valued at $21.7 million. Institutional investors collectively own 93.46% of MPWR.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,731.42. Recent targets were raised as high as $2,000, while the stock recently traded at $1,448.27.
• Monolithic Power Systems reported strong quarterly results, including $6.50 EPS versus a $5.87 estimate and revenue of $980.64 million, up 47.6% year over year. The company also announced a quarterly dividend of $2.00 per share, implying a 0.6% annual yield.

Park National Corp OH reduced its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 25.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,082 shares of the semiconductor company's stock after selling 5,581 shares during the period. Park National Corp OH's holdings in Monolithic Power Systems were worth $21,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPWR. BlackRock Inc. bought a new stake in shares of Monolithic Power Systems in the 2nd quarter worth approximately $7,727,289,000. Corient Private Wealth LLC increased its position in Monolithic Power Systems by 3,719.6% during the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock valued at $1,855,476,000 after buying an additional 1,993,576 shares in the last quarter. Bank of America Corp DE purchased a new position in Monolithic Power Systems during the second quarter valued at $741,271,000. Legal & General Group Plc purchased a new position in Monolithic Power Systems during the second quarter valued at $497,561,000. Finally, Royal Bank of Canada boosted its holdings in Monolithic Power Systems by 168.1% in the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock worth $517,557,000 after acquiring an additional 296,788 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Buying and Selling

In related news, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total value of $64,078.50. Following the completion of the sale, the director owned 515 shares of the company's stock, valued at $660,008.55. The trade was a 8.85% 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, EVP Maurice Sciammas sold 30 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the sale, the executive vice president owned 1,119 shares of the company's stock, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 130 shares of company stock valued at $175,397. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen restated a "buy" rating on shares of Monolithic Power Systems in a report on Monday. 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 report on Friday, July 31st. Wells Fargo & Company lifted their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Needham & Company LLC upped their target price on shares of 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. Finally, Zacks Research upgraded shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,731.42.

Monolithic Power Systems Price Performance

NASDAQ MPWR traded up $8.54 during trading hours on Monday, hitting $1,448.27. The company's stock had a trading volume of 221,831 shares, compared to its average volume of 726,461. Monolithic Power Systems, Inc. has a 12 month low of $833.18 and a 12 month high of $1,714.09. The company's 50 day simple moving average is $1,302.39 and its two-hundred day simple moving average is $1,374.50. The company has a market cap of $71.17 billion, a P/E ratio of 88.59 and a beta of 1.68.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to analysts' expectations of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The business's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.21 EPS. As a group, research analysts predict that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $8.00 annualized dividend and a yield of 0.6%. Monolithic Power Systems's dividend payout ratio (DPR) is currently 49.05%.

About Monolithic Power Systems

Monolithic Power Systems, Inc NASDAQ: MPWR is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company's product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.

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