Citizens Financial Group Inc. RI Invests $1.66 Million in Monolithic Power Systems, Inc. $MPWR

Key Points

• Citizens Financial Group acquired 1,201 shares of Monolithic Power Systems valued at approximately $1.66 million during the second quarter. Institutional investors collectively own 93.46% of MPWR’s outstanding shares.
• Monolithic Power Systems reported quarterly earnings of $6.50 per share, exceeding estimates of $5.87, while revenue rose 47.6% year over year to $980.64 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,705.82.
• MPWR shares opened at $1,333.18, with a market capitalization of $65.51 billion and a P/E ratio of 81.74. Insiders sold 13,191 shares worth $21.81 million over the past 90 days, while the company’s quarterly dividend implies a 0.6% yield.

Citizens Financial Group Inc. RI acquired a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,201 shares of the semiconductor company's stock, valued at approximately $1,661,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPWR. BlackRock Inc. purchased a new position in shares of Monolithic Power Systems during the second quarter worth $7,727,289,000. State Street Corp raised its holdings in shares of Monolithic Power Systems by 2.1% in the 4th quarter. State Street Corp now owns 2,180,419 shares of the semiconductor company's stock valued at $1,979,610,000 after buying an additional 45,715 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Monolithic Power Systems by 3,719.6% in 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 during the period. Price T Rowe Associates Inc. MD lifted its stake in Monolithic Power Systems by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,691,394 shares of the semiconductor company's stock worth $1,533,013,000 after acquiring an additional 117,596 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Monolithic Power Systems by 25.9% during the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company's stock worth $1,300,345,000 after acquiring an additional 295,556 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Analyst Upgrades and Downgrades

MPWR has been the subject of several research reports. Weiss Ratings downgraded Monolithic Power Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Citigroup reaffirmed a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. Truist Financial increased their target price on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Rosenblatt Securities reissued a "neutral" rating and issued a $1,575.00 price target on shares of Monolithic Power Systems in a research report on Friday, July 31st. Finally, Needham & Company LLC boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,705.82.

Monolithic Power Systems Price Performance

MPWR stock opened at $1,333.18 on Wednesday. The business's 50-day moving average is $1,387.64 and its two-hundred day moving average is $1,344.11. The firm has a market capitalization of $65.51 billion, a P/E ratio of 81.74 and a beta of 1.69. Monolithic Power Systems, Inc. has a 1 year low of $800.97 and a 1 year high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.The business had revenue of $980.64 million during the quarter, compared to the consensus estimate of $903.30 million. During the same period in the previous year, the company posted $4.21 earnings per share. The business's revenue for the quarter was up 47.6% on a year-over-year basis. On average, analysts expect that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Monolithic Power Systems's payout ratio is 49.05%.

Insider Activity

In other news, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the completion of the sale, the director directly owned 3,800 shares of the company's stock, valued at approximately $6,384,000. The trade was a 11.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kuo Wei Herbert Chang sold 50 shares of Monolithic Power Systems stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,420.00, for a total transaction of $71,000.00. Following the sale, the director directly owned 565 shares of the company's stock, valued at approximately $802,300. This trade represents a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,191 shares of company stock valued at $21,807,015. 3.60% of the stock is currently owned by company insiders.

About Monolithic Power Systems

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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