Evolve Private Wealth LLC purchased a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,828 shares of the semiconductor company's stock, valued at approximately $2,531,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Monolithic Power Systems during the second quarter worth about $7,727,289,000. Corient Private Wealth LLC raised its position in shares of 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 worth $1,855,476,000 after purchasing an additional 1,993,576 shares during the period. Norges Bank bought a new stake in shares of Monolithic Power Systems in the 4th quarter worth approximately $658,656,000. Royal Bank of Canada lifted its holdings in shares of Monolithic Power Systems by 168.1% in the 1st quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock worth $517,557,000 after purchasing an additional 296,788 shares during the last quarter. Finally, Invesco Ltd. boosted its position 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 valued at $1,300,345,000 after purchasing an additional 295,556 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.
Monolithic Power Systems Stock Up 0.4%
Shares of NASDAQ MPWR opened at $1,316.28 on Friday. The stock has a market cap of $64.68 billion, a P/E ratio of 80.70 and a beta of 1.69. The firm's 50-day simple moving average is $1,373.38 and its 200 day simple moving average is $1,346.04. Monolithic Power Systems, Inc. has a fifty-two week low of $800.97 and a fifty-two week high of $1,714.09.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share (EPS) 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 firm had revenue of $980.64 million during the quarter, compared to analyst estimates of $903.30 million. During the same quarter in the prior year, the firm posted $4.21 EPS. Monolithic Power Systems's revenue was up 47.6% compared to the same quarter last year. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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%.
Insider Transactions at Monolithic Power Systems
In other news, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the transaction, the director directly owned 3,800 shares in the company, valued at approximately $6,384,000. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kuo Wei Herbert Chang sold 50 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,420.00, for a total value of $71,000.00. Following the completion of the sale, the director directly owned 565 shares in the company, valued at $802,300. This represents a 8.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,191 shares of company stock worth $13,874,865 in the last three months. 3.60% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
MPWR has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Arete Research set a $2,013.00 price target on shares of Monolithic Power Systems and gave the company a "buy" rating in a report on Thursday. Raymond James Financial restated an "outperform" rating on shares of Monolithic Power Systems in a research report on Wednesday, August 12th. TD Cowen increased their price objective on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Needham & Company LLC lifted their price objective on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a "buy" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems presently has an average rating of "Moderate Buy" and a consensus price target of $1,731.42.
View Our Latest Research Report on MPWR
About Monolithic Power Systems
(
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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