Monolithic Power Systems, Inc. $MPWR Stock Position Raised by State Street Corp

Key Points

• State Street increased its Monolithic Power Systems stake by 4.3% in the second quarter, bringing its holdings to 2.28 million shares valued at approximately $3.16 billion. Institutional investors collectively own 93.46% of MPWR.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,731.42. Recent targets range from $1,575 to $2,100.
• Monolithic Power Systems reported strong quarterly results, with revenue up 47.6% year over year and earnings of $6.50 per share, exceeding estimates. The company also announced a quarterly dividend of $2.00 per share, representing a 0.6% yield.

State Street Corp boosted its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,282,186 shares of the semiconductor company's stock after buying an additional 93,732 shares during the period. State Street Corp owned about 4.64% of Monolithic Power Systems worth $3,159,219,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC boosted its position in Monolithic Power Systems by 160.0% during the second quarter. Anchor Investment Management LLC now owns 65 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 40 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Monolithic Power Systems by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the semiconductor company's stock worth $68,962,000 after purchasing an additional 233 shares in the last quarter. IPG Investment Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the 2nd quarter worth about $1,655,000. Whetstone Capital Advisors LLC acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at about $823,000. Finally, SVB Wealth LLC acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at about $205,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPWR has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Wells Fargo & Company lifted their price objective on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Arete Research set a $2,013.00 price objective on shares of Monolithic Power Systems and gave the stock a "buy" rating in a report on Thursday, August 20th. 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 research report on Friday, July 31st. Finally, Rosenblatt Securities restated a "neutral" rating and set a $1,575.00 target price on shares of Monolithic Power Systems in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,731.42.

Insider Buying and Selling

In related news, Director Kuo Wei Chang sold 50 shares of the 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 $660,008.55. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Maurice Sciammas sold 30 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. This trade represents 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 have sold 160 shares of company stock worth $215,945 over the last quarter. 3.60% of the stock is owned by company insiders.

Monolithic Power Systems Stock Up 8.1%

Monolithic Power Systems stock opened at $1,380.62 on Wednesday. The business has a 50 day moving average price of $1,300.35 and a two-hundred day moving average price of $1,357.18. Monolithic Power Systems, Inc. has a 12 month low of $833.18 and a 12 month high of $1,714.09. The stock has a market cap of $67.84 billion, a price-to-earnings ratio of 84.65 and a beta of 1.66.

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, beating 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 the consensus estimate of $903.30 million. During the same period in the previous year, the business earned $4.21 earnings per share. The company's quarterly revenue was up 47.6% on a year-over-year basis. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. Monolithic Power Systems's payout ratio is currently 49.05%.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc NASDAQ: MPWR designs, develops and markets high-performance semiconductor solutions, with a focus on power management. Its products help regulate, convert and control electrical power in electronic systems, enabling more efficient operation in applications ranging from computing and communications equipment to automotive, industrial and consumer devices.

The company's portfolio includes DC-to-DC converters, power modules, battery chargers, power-management integrated circuits, motor drivers, LED drivers, voltage regulators and other analog semiconductor products.

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