Resona Asset Management Co. Ltd. Lowers Holdings in Monolithic Power Systems, Inc. $MPWR

Key Points

• Resona Asset Management cut its stake in Monolithic Power Systems by 13.1% in the first quarter, selling 8,679 shares and ending with 57,707 shares worth about $61.7 million.
• Insiders have been selling stock: Director Jeff Zhou sold 486 shares and Director Eugen J. Elmiger sold 12,000 shares, while insiders collectively sold 69,370 shares worth $112.7 million over the last quarter.
• Monolithic Power Systems posted better-than-expected earnings, with Q1 EPS of $5.10 versus $4.90 expected and revenue of $804.2 million, up 26.1% year over year; analysts currently rate the stock a Moderate Buy with an average target price of $1,599.17.

Resona Asset Management Co. Ltd. reduced its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 57,707 shares of the semiconductor company's stock after selling 8,679 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.12% of Monolithic Power Systems worth $61,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MPWR. CFS Investment Advisory Services LLC purchased a new stake in shares of Monolithic Power Systems in the first quarter worth about $150,000. Oregon Public Employees Retirement Fund raised its position in Monolithic Power Systems by 2.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,591 shares of the semiconductor company's stock valued at $6,113,000 after acquiring an additional 116 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Monolithic Power Systems by 5.2% during the first quarter. Frank Rimerman Advisors LLC now owns 361 shares of the semiconductor company's stock valued at $395,000 after acquiring an additional 18 shares in the last quarter. Childress Capital Advisors LLC acquired a new position in Monolithic Power Systems in the first quarter valued at approximately $218,000. Finally, Clearwave Capital LLC acquired a new position in Monolithic Power Systems in the first quarter valued at approximately $374,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Insiders Place Their Bets

In other news, Director Jeff Zhou sold 486 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the completion of the sale, the director owned 3,800 shares of the company's stock, valued at $6,384,000. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eugen J. Elmiger sold 12,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,584.96, for a total transaction of $19,019,520.00. Following the transaction, the director owned 5,402 shares of the company's stock, valued at approximately $8,561,953.92. This trade represents a 68.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 69,370 shares of company stock valued at $112,702,503. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MPWR shares. Raymond James Financial reaffirmed an "outperform" rating and set a $1,800.00 price objective on shares of Monolithic Power Systems in a research note on Friday, May 1st. Oppenheimer set a $1,700.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 1st. Weiss Ratings raised shares of Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. KeyCorp raised their price target on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, TD Cowen lifted their price objective on shares of Monolithic Power Systems from $1,550.00 to $1,850.00 and gave the company a "buy" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Monolithic Power Systems has an average rating of "Moderate Buy" and an average target price of $1,599.17.

Monolithic Power Systems Trading Up 3.4%

Shares of MPWR opened at $1,315.51 on Thursday. The firm has a market cap of $64.63 billion, a P/E ratio of 94.85, a PEG ratio of 2.28 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12 month low of $686.87 and a 12 month high of $1,714.09. The stock's 50 day moving average is $1,520.10 and its two-hundred day moving average is $1,269.29.

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

Monolithic Power Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Monolithic Power Systems's dividend payout ratio (DPR) is presently 57.68%.

Monolithic Power Systems Company Profile

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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