Monolithic Power Systems, Inc. (NASDAQ:MPWR) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 13.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 21,585 shares of the semiconductor company's stock after buying an additional 2,485 shares during the period. Pinnacle Financial Partners Inc's holdings in Monolithic Power Systems were worth $12,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Monolithic Power Systems during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in Monolithic Power Systems in the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. increased its position in Monolithic Power Systems by 637.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 51 shares during the period. AlphaQuest LLC purchased a new position in shares of Monolithic Power Systems during the 4th quarter worth approximately $41,000. Finally, Global Financial Private Client LLC lifted its holdings in shares of Monolithic Power Systems by 265.0% in the 1st quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company's stock valued at $42,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 93.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPWR. Stifel Nicolaus dropped their price objective on Monolithic Power Systems from $1,100.00 to $880.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. TD Cowen upped their price target on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price objective on shares of Monolithic Power Systems from $665.00 to $695.00 and gave the stock an "equal weight" rating in a report on Monday, June 16th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Monolithic Power Systems has a consensus rating of "Moderate Buy" and a consensus price target of $789.42.

Monolithic Power Systems Trading Down 0.7%

Shares of MPWR stock traded down $5.41 during trading hours on Thursday, hitting $758.99. The company's stock had a trading volume of 399,227 shares, compared to its average volume of 800,698. The business has a fifty day moving average of $680.04 and a 200-day moving average of $631.43. Monolithic Power Systems, Inc. has a twelve month low of $438.86 and a twelve month high of $959.64. The stock has a market cap of $36.34 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.96 and a beta of 1.20.

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 (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.04. The company had revenue of $637.55 million for the quarter, compared to analysts' expectations of $633.43 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The firm's revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period last year, the company earned $2.81 EPS. On average, equities analysts expect that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Monday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is 16.56%.

Insider Buying and Selling

In other news, EVP Maurice Sciammas sold 12,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $701.00, for a total transaction of $8,412,000.00. Following the completion of the sale, the executive vice president directly owned 4,015 shares in the company, valued at $2,814,515. This represents a 74.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Theodore Blegen sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total value of $4,500,000.00. Following the sale, the chief financial officer owned 46,939 shares of the company's stock, valued at $35,204,250. The trade was a 11.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,200 shares of company stock valued at $13,046,800. Insiders own 3.40% of the company's stock.

Monolithic Power Systems Profile

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.