Resona Asset Management Co. Ltd. Buys 359 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Key Points

• Resona Asset Management Co. Ltd. increased its position in Monolithic Power Systems by 0.4% during Q1, acquiring an additional 359 shares, bringing its total stake to 81,537 shares worth approximately $47.29 million.
• Several other institutional investors have also heightened their stakes in Monolithic Power Systems, with hedge funds collectively owning 93.46% of the company.
• Monolithic Power Systems reported strong Q2 earnings, with $4.21 earnings per share, exceeding analysts' expectations and reflecting a 31% year-over-year revenue increase of $664.57 million.

Resona Asset Management Co. Ltd. boosted its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,537 shares of the semiconductor company's stock after purchasing an additional 359 shares during the quarter. Resona Asset Management Co. Ltd. owned 0.17% of Monolithic Power Systems worth $47,288,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Beverly Hills Private Wealth LLC raised its holdings in shares of Monolithic Power Systems by 3.2% in the first quarter. Beverly Hills Private Wealth LLC now owns 638 shares of the semiconductor company's stock valued at $370,000 after purchasing an additional 20 shares during the last quarter. Cromwell Holdings LLC raised its holdings in shares of Monolithic Power Systems by 18.7% in the first quarter. Cromwell Holdings LLC now owns 127 shares of the semiconductor company's stock valued at $74,000 after purchasing an additional 20 shares during the last quarter. Burney Co. raised its holdings in shares of Monolithic Power Systems by 2.2% in the first quarter. Burney Co. now owns 946 shares of the semiconductor company's stock valued at $549,000 after purchasing an additional 20 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Monolithic Power Systems by 2.9% in the first quarter. Kestra Private Wealth Services LLC now owns 897 shares of the semiconductor company's stock valued at $520,000 after purchasing an additional 25 shares during the last quarter. Finally, TrinityPoint Wealth LLC raised its holdings in shares of Monolithic Power Systems by 5.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 513 shares of the semiconductor company's stock valued at $303,000 after purchasing an additional 27 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MPWR shares. Oppenheimer reiterated an "outperform" rating and issued a $800.00 price objective (up from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Rosenblatt Securities reissued a "neutral" rating and issued a $800.00 target price on shares of Monolithic Power Systems in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on shares of Monolithic Power Systems from $880.00 to $930.00 and gave the company a "buy" rating in a research note on Friday, August 1st. TD Cowen raised their target price on shares of Monolithic Power Systems from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Citigroup reissued a "buy" rating and issued a $825.00 target price (up from $785.00) on shares of Monolithic Power Systems in a research note on Monday, August 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $838.09.

Insider Activity at Monolithic Power Systems

In other news, EVP Deming Xiao sold 39,999 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $780.00, for a total value of $31,199,220.00. Following the completion of the transaction, the executive vice president owned 121,605 shares of the company's stock, valued at $94,851,900. This represents a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeff Zhou sold 400 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $850.00, for a total value of $340,000.00. Following the completion of the transaction, the director directly owned 5,804 shares of the company's stock, valued at $4,933,400. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,599 shares of company stock valued at $38,455,220 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Monolithic Power Systems Price Performance

MPWR stock traded down $22.34 during midday trading on Friday, reaching $826.47. 575,621 shares of the company were exchanged, compared to its average volume of 811,530. The business has a 50-day moving average price of $741.32 and a two-hundred day moving average price of $661.51. Monolithic Power Systems, Inc. has a one year low of $438.86 and a one year high of $959.64. The firm has a market capitalization of $39.58 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 3.21 and a beta of 1.18.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The semiconductor company reported $4.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.12 by $0.09. The company had revenue of $664.57 million during the quarter, compared to analysts' expectations of $648.74 million. Monolithic Power Systems had a net margin of 73.17% and a return on equity of 19.14%. Monolithic Power Systems's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.17 earnings per share. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

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

Monolithic Power Systems Company 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.