Resona Asset Management Co. Ltd. Sells 8,559 Shares of Monolithic Power Systems, Inc. $MPWR

Key Points

• Resona Asset Management cut its Monolithic Power Systems stake by 14.8%, selling 8,559 shares and retaining 49,148 shares valued at approximately $66.9 million. Institutional investors collectively own 93.46% of the company.
• Monolithic Power Systems reported quarterly EPS of $6.50, beating estimates of $5.87, while revenue reached $980.64 million and rose 47.6% year over year.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,705.82; the company also pays a quarterly dividend of $2.00, yielding about 0.6%.

Resona Asset Management Co. Ltd. trimmed its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,148 shares of the semiconductor company's stock after selling 8,559 shares during the quarter. Resona Asset Management Co. Ltd. owned 0.10% of Monolithic Power Systems worth $66,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPWR. State Street Corp boosted its stake in Monolithic Power Systems by 2.1% during the fourth quarter. State Street Corp now owns 2,180,419 shares of the semiconductor company's stock worth $1,979,610,000 after buying an additional 45,715 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Monolithic Power Systems by 3,719.6% in the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company's stock valued at $1,855,476,000 after buying an additional 1,993,576 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Monolithic Power Systems by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,691,394 shares of the semiconductor company's stock worth $1,533,013,000 after acquiring an additional 117,596 shares during the period. Invesco Ltd. lifted its holdings in shares of Monolithic Power Systems by 25.9% during the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company's stock worth $1,300,345,000 after acquiring an additional 295,556 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Monolithic Power Systems by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,382,280 shares of the semiconductor company's stock valued at $1,248,436,000 after acquiring an additional 44,583 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Stock Performance

Shares of NASDAQ MPWR opened at $1,362.55 on Friday. Monolithic Power Systems, Inc. has a 52-week low of $800.97 and a 52-week high of $1,714.09. The business has a fifty day moving average of $1,396.06 and a two-hundred day moving average of $1,338.29. The stock has a market cap of $66.96 billion, a PE ratio of 83.54 and a beta of 1.69.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, topping the consensus estimate of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The firm's quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.21 EPS. Analysts predict that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $2.00 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. Monolithic Power Systems's payout ratio is 49.05%.

Insider Activity

In other news, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total value of $816,480.00. Following the completion of the transaction, the director owned 3,800 shares in the company, valued at approximately $6,384,000. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maurice Sciammas sold 30 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the completion of the transaction, the executive vice president owned 1,119 shares of the company's stock, valued at $1,503,868.86. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,191 shares of company stock valued at $21,807,015 over the last three months. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPWR. Wells Fargo & Company upped their target price on shares of Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Stifel Nicolaus raised their price target on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Zacks Research raised Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 18th. Wall Street Zen upgraded Monolithic Power Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Oppenheimer set a $1,700.00 price objective on Monolithic Power Systems in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,705.82.

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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