PNC Financial Services Group Inc. Has $6.06 Million Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

PNC Financial Services Group Inc. increased its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,456 shares of the semiconductor company's stock after acquiring an additional 1,012 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Monolithic Power Systems were worth $6,064,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Monolithic Power Systems by 46.0% during the 4th 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. Arrowstreet Capital Limited Partnership bought a new stake in shares of Monolithic Power Systems during the fourth quarter worth approximately $454,000. Wells Fargo & Company MN lifted its holdings in Monolithic Power Systems by 20.2% in the fourth quarter. Wells Fargo & Company MN now owns 69,376 shares of the semiconductor company's stock valued at $41,050,000 after buying an additional 11,667 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Monolithic Power Systems in the fourth quarter valued at approximately $293,000. Finally, Aviva PLC raised its position in shares of Monolithic Power Systems by 11.1% during the 4th quarter. Aviva PLC now owns 2,831 shares of the semiconductor company's stock valued at $1,675,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.

Analysts Set New Price Targets

MPWR has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Monolithic Power Systems from $730.00 to $750.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. TD Cowen increased their target price on Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Oppenheimer restated an "outperform" rating and set a $800.00 target price (up previously from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Loop Capital upped their price target on Monolithic Power Systems from $760.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, KeyCorp increased their price target on shares of Monolithic Power Systems from $940.00 to $950.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $838.09.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 4,015 shares in the company, valued at approximately $2,814,515. This trade represents a 74.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kuo Wei Herbert Chang sold 100 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total value of $69,800.00. Following the completion of the sale, the director owned 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,099 shares of company stock valued at $46,431,020. 3.40% of the stock is currently owned by company insiders.

Monolithic Power Systems Stock Performance

MPWR stock traded up $6.35 during mid-day trading on Friday, hitting $804.29. 399,352 shares of the company were exchanged, compared to its average volume of 818,991. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $959.64. The firm's 50 day simple moving average is $728.95 and its 200 day simple moving average is $656.81. The firm has a market cap of $38.52 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.00 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.09. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. The company had revenue of $664.57 million during the quarter, compared to the consensus estimate of $648.74 million. During the same quarter in the prior year, the firm earned $3.17 earnings per share. The firm's revenue was up 31.0% compared to the same quarter last year. On average, equities research analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, June 30th. Monolithic Power Systems's payout ratio is 16.25%.

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.