Park National Corp OH Trims Stock Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• Park National Corp OH cut its stake in Monolithic Power Systems by 32.4% in the first quarter, leaving it with 28,114 shares valued at about $30.7 million.
• Monolithic Power Systems reported strong quarterly results, with EPS of $5.10 beating estimates and revenue of $804.2 million, up 26.1% year over year.
• The company announced a $2.00 quarterly dividend payable July 15, while analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $1,599.17.

Park National Corp OH cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 32.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,114 shares of the semiconductor company's stock after selling 13,492 shares during the period. Park National Corp OH owned 0.06% of Monolithic Power Systems worth $30,738,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MPWR. Brighton Jones LLC raised its position in Monolithic Power Systems by 46.0% in the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company's stock valued at $376,000 after purchasing an additional 200 shares during the period. Empowered Funds LLC lifted its stake in shares of Monolithic Power Systems by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company's stock valued at $3,088,000 after purchasing an additional 161 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Monolithic Power Systems by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company's stock worth $6,863,000 after purchasing an additional 314 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Monolithic Power Systems by 35.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company's stock worth $26,175,000 after purchasing an additional 9,315 shares during the period. Finally, Globeflex Capital L P acquired a new stake in shares of Monolithic Power Systems during the 2nd quarter worth about $347,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Monolithic Power Systems Price Performance

MPWR opened at $1,563.70 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $671.18 and a 52 week high of $1,714.09. The business has a fifty day simple moving average of $1,546.37 and a 200-day simple moving average of $1,230.09. The firm has a market cap of $76.82 billion, a P/E ratio of 112.74, a P/E/G ratio of 2.80 and a beta of 1.69.

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

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Monolithic Power Systems's payout ratio is currently 57.68%.

Insider Buying and Selling

In other Monolithic Power Systems news, Director Jeff Zhou sold 1,014 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,587.06, for a total transaction of $1,609,278.84. Following the sale, the director directly owned 4,786 shares in the company, valued at $7,595,669.16. This represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Saria Tseng sold 25,674 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $1,010.50, for a total transaction of $25,943,577.00. Following the sale, the executive vice president directly owned 174,982 shares in the company, valued at $176,819,311. This represents a 12.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 113,043 shares of company stock worth $160,843,106 over the last 90 days. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPWR. Weiss Ratings upgraded shares of Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. KeyCorp increased their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Zacks Research cut shares of Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Wells Fargo & Company lifted their price target on shares of Monolithic Power Systems from $1,650.00 to $1,860.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $1,800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,599.17.

About Monolithic Power Systems

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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