Citigroup Inc. Sells 74,199 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Citigroup Inc. reduced its holdings in Monolithic Power Systems by 21.4%, selling 74,199 shares, and now owns approximately 0.57% of the company, worth around $158.3 million.
• Several institutional investors, including Mitsubishi UFJ Asset Management and Deutsche Bank AG, have increased their positions in Monolithic Power Systems, reflecting a trend where institutional investors own 93.46% of the company's stock.
• Monolithic Power Systems reported $4.21 per share earnings for the last quarter, exceeding expectations, and announced a dividend of $1.56 per share with a 0.8% dividend yield.

Citigroup Inc. lessened its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 21.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,981 shares of the semiconductor company's stock after selling 74,199 shares during the quarter. Citigroup Inc. owned about 0.57% of Monolithic Power Systems worth $158,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MPWR. Beverly Hills Private Wealth LLC boosted its position in Monolithic Power Systems by 3.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 638 shares of the semiconductor company's stock worth $370,000 after acquiring an additional 20 shares during the period. Cromwell Holdings LLC increased its position in shares of Monolithic Power Systems by 18.7% in the first quarter. Cromwell Holdings LLC now owns 127 shares of the semiconductor company's stock worth $74,000 after acquiring an additional 20 shares in the last quarter. Burney Co. lifted its position in shares of Monolithic Power Systems by 2.2% in the 1st quarter. Burney Co. now owns 946 shares of the semiconductor company's stock valued at $549,000 after acquiring an additional 20 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in Monolithic Power Systems by 2.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 897 shares of the semiconductor company's stock worth $520,000 after purchasing an additional 25 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in shares of Monolithic Power Systems by 5.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 513 shares of the semiconductor company's stock valued at $303,000 after purchasing an additional 27 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Monolithic Power Systems Price Performance

Shares of Monolithic Power Systems stock traded up $15.56 during midday trading on Wednesday, reaching $856.12. The company had a trading volume of 211,068 shares, compared to its average volume of 812,422. Monolithic Power Systems, Inc. has a fifty-two week low of $438.86 and a fifty-two week high of $959.64. The stock has a fifty day moving average price of $734.63 and a 200 day moving average price of $658.40. The firm has a market cap of $41.00 billion, a PE ratio of 22.21, a P/E/G ratio of 2.97 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $4.21 EPS for the quarter, topping the consensus estimate of $4.12 by $0.09. The business had revenue of $664.57 million during the quarter, compared to analysts' expectations of $648.74 million. Monolithic Power Systems had a return on equity of 19.14% and a net margin of 73.17%. The firm's revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. As a group, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's dividend payout ratio is currently 16.25%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research report on Friday, August 1st. Citigroup restated a "buy" rating and set a $825.00 target price (up from $785.00) on shares of Monolithic Power Systems in a report on Monday, August 4th. Raymond James Financial reissued an "outperform" rating and set a $875.00 target price (up previously from $720.00) on shares of Monolithic Power Systems in a research report on Friday, August 1st. Needham & Company LLC raised their price objective on shares of Monolithic Power Systems from $800.00 to $820.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus raised their price objective on Monolithic Power Systems from $880.00 to $930.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Monolithic Power Systems presently has a consensus rating of "Moderate Buy" and an average price target of $838.09.

Insider Transactions at Monolithic Power Systems

In related news, EVP Deming Xiao sold 39,999 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $780.00, for a total transaction of $31,199,220.00. Following the transaction, the executive vice president owned 121,605 shares of the company's stock, valued at $94,851,900. The trade was a 24.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore Blegen sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $750.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief financial officer directly owned 43,939 shares of the company's stock, valued at approximately $32,954,250. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,999 shares of company stock worth $37,949,220 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

About Monolithic Power Systems

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.