Bank of New York Mellon Corp Takes Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• Bank of New York Mellon acquired 291,107 shares of Monolithic Power Systems worth approximately $402.4 million, giving it a 0.59% stake. Institutional investors collectively own 93.46% of MPWR.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,731.42 after several firms raised their targets or ratings.
• Monolithic Power Systems reported quarterly EPS of $6.50, beating estimates by $0.63, while revenue rose 47.6% year over year to $980.64 million. Insiders, however, sold 8,191 shares worth approximately $13.9 million over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 291,107 shares of the semiconductor company's stock, valued at approximately $402,414,000. Bank of New York Mellon Corp owned 0.59% of Monolithic Power Systems at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Monolithic Power Systems by 46.0% in the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after purchasing an additional 200 shares during the last quarter. Empowered Funds LLC increased its stake in Monolithic Power Systems by 3.1% in the first quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company's stock valued at $3,088,000 after purchasing an additional 161 shares in the last quarter. NewEdge Advisors LLC increased its stake in Monolithic Power Systems by 3.5% in the second quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company's stock valued at $6,863,000 after purchasing an additional 314 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Monolithic Power Systems by 35.2% during 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 purchasing an additional 9,315 shares in the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Monolithic Power Systems during the second quarter worth $347,000. 93.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 18th. KeyCorp boosted their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Truist Financial upped their price target on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings raised shares of Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Finally, Oppenheimer set a $1,700.00 price objective on shares of Monolithic Power Systems in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,731.42.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, Director Jeff Zhou sold 486 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total value of $816,480.00. Following the transaction, the director directly owned 3,800 shares of the company's stock, valued at $6,384,000. This represents a 11.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the sale, the executive vice president owned 1,119 shares of the company's stock, valued at $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 8,191 shares of company stock worth $13,874,865. 3.60% of the stock is currently owned by corporate insiders.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock opened at $1,316.28 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $800.97 and a 52 week high of $1,714.09. The stock has a market capitalization of $64.68 billion, a P/E ratio of 80.70 and a beta of 1.69. The stock has a 50-day simple moving average of $1,373.38 and a 200 day simple moving average of $1,346.04.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.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 company earned $4.21 earnings per share. Research analysts forecast that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid 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 was Tuesday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is currently 49.05%.

Monolithic Power Systems Company Profile

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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