Hsbc Holdings PLC acquired a new stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 190,811 shares of the semiconductor company's stock, valued at approximately $262,389,000. Hsbc Holdings PLC owned about 0.39% of Monolithic Power Systems as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MPWR. BlackRock Inc. purchased a new stake in Monolithic Power Systems during the 2nd quarter valued at about $7,727,289,000. Corient Private Wealth LLC raised its stake 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 valued at $1,855,476,000 after buying an additional 1,993,576 shares during the last quarter. Norges Bank purchased a new position in shares of Monolithic Power Systems during the 4th quarter valued at about $658,656,000. Legal & General Group Plc acquired a new position in shares of Monolithic Power Systems in the 2nd quarter valued at about $497,561,000. Finally, Royal Bank of Canada boosted its stake in shares of Monolithic Power Systems by 168.1% in the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company's stock worth $517,557,000 after buying an additional 296,788 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.
Insider Buying and Selling
In other news, Director Kuo Wei Herbert Chang sold 50 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total value of $64,078.50. Following the transaction, the director directly owned 515 shares in the company, valued at approximately $660,008.55. This represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the sale, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. The trade was a 2.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 190 shares of company stock worth $261,964 over the last three months. Insiders own 3.60% of the company's stock.
Monolithic Power Systems Trading Up 1.5%
MPWR opened at $1,304.15 on Wednesday. The firm has a market capitalization of $64.09 billion, a PE ratio of 79.96 and a beta of 1.69. Monolithic Power Systems, Inc. has a twelve month low of $800.97 and a twelve month high of $1,714.09. The firm's 50-day moving average price is $1,362.15 and its 200 day moving average price is $1,349.28.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share 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 company had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. During the same quarter in the previous year, the company posted $4.21 earnings per share. The firm's revenue for the quarter was up 47.6% compared to the same quarter last year. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems's payout ratio is 49.05%.
Analyst Ratings Changes
Several equities analysts recently issued reports on MPWR shares. Wall Street Zen upgraded shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. KeyCorp upped their target price on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Zacks Research upgraded Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 18th. Citigroup reissued a "buy" rating on shares of Monolithic Power Systems in a research note on Friday, May 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Monolithic Power Systems in a research note on Wednesday, August 12th. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,731.42.
Check Out Our Latest Report on Monolithic Power Systems
Monolithic Power Systems Profile
(
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.
Further Reading
Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Monolithic Power Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monolithic Power Systems wasn't on the list.
While Monolithic Power Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Click the link to see our list of which EV stocks show the most long-term potential.
Get This Free Report
