Allworth Financial LP purchased a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,586 shares of the semiconductor company's stock, valued at approximately $3,575,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPWR. IFP Advisors Inc grew its position in Monolithic Power Systems by 171.4% in the third quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 24 shares during the period. Covestor Ltd lifted its holdings in Monolithic Power Systems by 29.0% during the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 9 shares during the last quarter. Danske Bank A S bought a new position in Monolithic Power Systems during the 2nd quarter valued at about $36,000. Greenline Wealth Management LLC acquired a new position in Monolithic Power Systems in the fourth quarter valued at about $38,000. Finally, Sunbelt Securities Inc. boosted its position in Monolithic Power Systems by 233.3% in the first quarter. Sunbelt Securities Inc. now owns 40 shares of the semiconductor company's stock valued at $44,000 after buying an additional 28 shares in the last quarter. Institutional investors own 93.46% of the company's stock.
Insider Transactions at Monolithic Power Systems
In related news, EVP Saria Tseng sold 7,565 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 144,218 shares in the company, valued at $245,170,600. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total value of $816,480.00. Following the completion of the sale, the director owned 3,800 shares of the company's stock, valued at approximately $6,384,000. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,191 shares of company stock valued at $13,874,865 over the last quarter. Corporate insiders own 3.60% of the company's stock.
Monolithic Power Systems Trading Up 0.8%
Shares of MPWR stock opened at $1,310.60 on Friday. Monolithic Power Systems, Inc. has a 1 year low of $800.97 and a 1 year high of $1,714.09. The firm's 50 day moving average is $1,378.60 and its 200-day moving average is $1,346.25. The firm has a market capitalization of $64.41 billion, a price-to-earnings ratio of 80.36 and a beta of 1.69.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating 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 business had revenue of $980.64 million during the quarter, compared to analyst estimates of $903.30 million. During the same quarter last year, the business posted $4.21 earnings per share. Monolithic Power Systems's revenue for the quarter was up 47.6% compared to the same quarter last year. On average, equities research analysts forecast that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.
Monolithic Power Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 annualized dividend 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 (DPR) is 49.05%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Needham & Company LLC boosted their target price on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Weiss Ratings upgraded Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. KeyCorp increased their price target on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Zacks Research raised Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Monolithic Power Systems has an average rating of "Moderate Buy" and a consensus target price of $1,731.42.
Check Out Our Latest Analysis on MPWR
Monolithic Power Systems Company 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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