Fifth Third Bancorp Boosts Stock Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• Fifth Third Bancorp increased its stake in Monolithic Power Systems by 53.4% in the first quarter, bringing its holdings to 25,811 shares worth about $28.2 million.
• Insiders have been selling shares, including Director Jeff Zhou and EVP Deming Xiao, with total insider sales of 69,370 shares worth roughly $112.7 million over the last three months.
• Monolithic Power Systems posted strong quarterly results, beating earnings and revenue estimates, while analysts remain upbeat with a Moderate Buy consensus and multiple raised price targets.

Fifth Third Bancorp raised its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 53.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,811 shares of the semiconductor company's stock after purchasing an additional 8,987 shares during the period. Fifth Third Bancorp owned about 0.05% of Monolithic Power Systems worth $28,220,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AIA Group Ltd acquired a new stake in shares of Monolithic Power Systems during the 3rd quarter valued at $1,459,000. Merit Financial Group LLC lifted its holdings in shares of Monolithic Power Systems by 183.9% during the fourth quarter. Merit Financial Group LLC now owns 2,757 shares of the semiconductor company's stock valued at $2,499,000 after purchasing an additional 1,786 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new position in shares of Monolithic Power Systems in the 4th quarter valued at $3,983,000. Mirabaud Asset Management Ltd acquired a new position in shares of Monolithic Power Systems in the 4th quarter valued at $4,424,000. Finally, Generate Investment Management Ltd purchased a new position in Monolithic Power Systems in the 4th quarter worth about $9,364,000. 93.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jeff Zhou sold 1,014 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,587.06, for a total transaction of $1,609,278.84. Following the completion of the sale, the director directly owned 4,786 shares in the company, valued at approximately $7,595,669.16. This trade represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deming Xiao sold 30,000 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,654.55, for a total value of $49,636,500.00. Following the sale, the executive vice president directly owned 205,959 shares of the company's stock, valued at approximately $340,769,463.45. The trade was a 12.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,370 shares of company stock valued at $112,702,503 in the last three months. Company insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC upped their price objective on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Stifel Nicolaus boosted their price target on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Truist Financial set a $1,805.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. TD Cowen lifted 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 research report on Friday, May 1st. Finally, Oppenheimer set a $1,700.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,599.17.

Monolithic Power Systems Stock Performance

MPWR stock opened at $1,291.38 on Tuesday. The firm has a 50 day simple moving average of $1,507.56 and a 200 day simple moving average of $1,277.68. Monolithic Power Systems, Inc. has a 52 week low of $686.87 and a 52 week high of $1,714.09. The stock has a market cap of $63.45 billion, a P/E ratio of 93.11, a P/E/G ratio of 2.42 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.90 by $0.20. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. The firm had revenue of $804.19 million for the quarter, compared to analyst estimates of $781.93 million. During the same quarter in the prior year, the business earned $4.04 EPS. The company's revenue for the quarter was up 26.1% compared to the same quarter last year. Sell-side analysts predict that Monolithic Power Systems, Inc. will post 20.13 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. Monolithic Power Systems's dividend payout ratio is 57.68%.

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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