M&T Bank Corp Sells 515 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

M&T Bank Corp decreased its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,606 shares of the semiconductor company's stock after selling 515 shares during the period. M&T Bank Corp's holdings in Monolithic Power Systems were worth $1,511,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Monolithic Power Systems by 13.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,719 shares of the semiconductor company's stock valued at $2,157,000 after acquiring an additional 438 shares in the last quarter. Praxis Investment Management Inc. acquired a new stake in Monolithic Power Systems in the 1st quarter valued at about $980,000. Jackson Wealth Management LLC lifted its stake in Monolithic Power Systems by 29.5% in the 1st quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company's stock valued at $1,680,000 after purchasing an additional 659 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Monolithic Power Systems by 52.6% in the 1st quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company's stock valued at $379,000 after purchasing an additional 225 shares during the last quarter. Finally, Boston Family Office LLC lifted its stake in Monolithic Power Systems by 1,031.6% in the 4th quarter. Boston Family Office LLC now owns 2,614 shares of the semiconductor company's stock valued at $1,547,000 after purchasing an additional 2,383 shares during the last quarter. Institutional investors own 93.46% of the company's stock.

Analysts Set New Price Targets

MPWR has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial reiterated an "outperform" rating and issued a $720.00 target price (down from $925.00) on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Rosenblatt Securities reiterated a "neutral" rating and issued a $644.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on shares of Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $799.42.

Monolithic Power Systems Stock Down 0.6%

Shares of MPWR stock opened at $736.06 on Monday. The firm has a 50 day moving average price of $701.64 and a two-hundred day moving average price of $638.40. The company has a market capitalization of $35.24 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.92 and a beta of 1.20. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $4.00 by $0.04. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The company had revenue of $637.55 million during the quarter, compared to the consensus estimate of $633.43 million. During the same period in the previous year, the business earned $2.81 earnings per share. The firm's quarterly revenue was up 39.2% on a year-over-year basis. As a group, research analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $1.56 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.85%. Monolithic Power Systems's payout ratio is 16.56%.

Insider Activity

In other news, CFO Theodore Blegen sold 6,000 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $750.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief financial officer directly owned 46,939 shares in the company, valued at approximately $35,204,250. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kuo Wei Herbert Chang sold 100 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total transaction of $69,800.00. Following the completion of the sale, the director owned 676 shares of the company's stock, valued at approximately $471,848. The trade was a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,200 shares of company stock worth $13,046,800. Corporate insiders own 3.40% of the company's stock.

About Monolithic Power Systems

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.

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