Franklin Resources Inc. Sells 36,244 Shares of Monolithic Power Systems, Inc. $MPWR

Key Points

• Franklin Resources Inc. cut its stake in Monolithic Power Systems (NASDAQ:MPWR) by 3.3%, selling 36,244 shares in Q3 and now holds 1,052,053 shares (~2.20% of the company) valued at about $968.6 million.
• Insiders have been net sellers: executives sold 98,550 shares in the past 90 days (including Saria Tseng's 22,875-share sale for ~$26.8M), and insiders now own 3.40% of the stock.
• Monolithic Power beat quarterly EPS and revenue estimates, raised its quarterly dividend to $2.00 (annualized $8.00, yield ~0.8%), and analysts have mostly raised price targets resulting in a consensus "Moderate Buy" with an average target of $1,218.42.

Franklin Resources Inc. lowered its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,052,053 shares of the semiconductor company's stock after selling 36,244 shares during the quarter. Franklin Resources Inc. owned 2.20% of Monolithic Power Systems worth $968,562,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. SJS Investment Consulting Inc. raised its holdings in shares of Monolithic Power Systems by 2,700.0% in the third quarter. SJS Investment Consulting Inc. now owns 28 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 27 shares during the last quarter. True Wealth Design LLC boosted its holdings in Monolithic Power Systems by 61.1% during the third quarter. True Wealth Design LLC now owns 29 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 11 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Monolithic Power Systems in the third quarter valued at $33,000. Armstrong Advisory Group Inc. grew its position in Monolithic Power Systems by 192.9% in the third quarter. Armstrong Advisory Group Inc. now owns 41 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 27 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in Monolithic Power Systems by 542.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the semiconductor company's stock valued at $41,000 after buying an additional 38 shares during the last quarter. 93.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Maurice Sciammas sold 200 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,179.97, for a total transaction of $235,994.00. Following the transaction, the executive vice president directly owned 1,299 shares of the company's stock, valued at approximately $1,532,781.03. The trade was a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Saria Tseng sold 22,875 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $1,171.16, for a total value of $26,790,285.00. Following the completion of the sale, the executive vice president owned 200,626 shares in the company, valued at approximately $234,965,146.16. This trade represents a 10.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 98,550 shares of company stock valued at $114,256,090. Insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MPWR. Citigroup boosted their price target on shares of Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Wells Fargo & Company lifted their target price on Monolithic Power Systems from $1,200.00 to $1,350.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Zacks Research upgraded Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 10th. Oppenheimer reissued an "outperform" rating and set a $1,300.00 price target on shares of Monolithic Power Systems in a research report on Thursday, January 29th. Finally, Truist Financial boosted their price target on Monolithic Power Systems from $1,375.00 to $1,396.00 and gave the stock a "buy" rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,218.42.

Monolithic Power Systems Price Performance

Shares of MPWR opened at $1,055.82 on Wednesday. The company has a market cap of $51.86 billion, a PE ratio of 82.87, a price-to-earnings-growth ratio of 2.69 and a beta of 1.45. The firm has a 50-day moving average of $1,092.36 and a 200-day moving average of $990.35. Monolithic Power Systems, Inc. has a one year low of $438.86 and a one year high of $1,256.22.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its earnings results on Thursday, February 5th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.74 by $0.05. Monolithic Power Systems had a net margin of 22.07% and a return on equity of 18.33%. The company had revenue of $751.16 million for the quarter, compared to analysts' expectations of $741.69 million. During the same period in the prior year, the firm earned $4.09 EPS. Monolithic Power Systems's quarterly revenue was up 20.8% compared to the same quarter last year. Analysts expect that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $2.00 dividend. This is a positive change from Monolithic Power Systems's previous quarterly dividend of $1.56. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Monolithic Power Systems's dividend payout ratio is currently 48.98%.

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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