Westpac Banking Corp Buys New Shares in Monolithic Power Systems, Inc. $MPWR

Key Points

• Westpac Banking Corp initiated a position in Monolithic Power Systems during the second quarter, buying 828 shares valued at approximately $1.15 million. Institutional investors and hedge funds collectively own 93.46% of MPWR.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $1,731.42; KeyCorp and Needham recently raised their targets to $2,100 and $2,000, respectively.
• Monolithic Power Systems exceeded quarterly expectations, reporting $6.50 in EPS versus $5.87 expected and revenue of $980.64 million, up 47.6% year over year. Meanwhile, insiders sold 8,191 shares worth about $13.9 million over the last quarter.

Westpac Banking Corp purchased a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 828 shares of the semiconductor company's stock, valued at approximately $1,145,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Danske Bank A S purchased a new stake in Monolithic Power Systems in the second quarter valued at approximately $36,000. IFP Advisors Inc raised its position in shares of Monolithic Power Systems by 171.4% in the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company's stock worth $35,000 after buying an additional 24 shares during the period. Covestor Ltd raised its position in shares of Monolithic Power Systems by 29.0% in the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company's stock worth $36,000 after buying an additional 9 shares during the period. Sunbelt Securities Inc. grew its position in Monolithic Power Systems by 233.3% during the first quarter. Sunbelt Securities Inc. now owns 40 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 28 shares during the period. Finally, Greenline Wealth Management LLC acquired a new stake in Monolithic Power Systems during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 93.46% of the company's stock.

Insider Buying and Selling

In related news, EVP Saria Tseng sold 7,565 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,700.00, for a total transaction of $12,860,500.00. Following the completion of the transaction, the executive vice president directly owned 144,218 shares in the company, valued at $245,170,600. This represents a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maurice Sciammas sold 30 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total value of $40,318.20. Following the transaction, the executive vice president owned 1,119 shares of the company's stock, valued at approximately $1,503,868.86. The trade was a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,191 shares of company stock worth $13,874,865. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on MPWR shares. KeyCorp increased their target price on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Oppenheimer set a $1,700.00 price objective on shares of Monolithic Power Systems in a research report on Friday, May 1st. Wall Street Zen raised shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings raised Monolithic Power Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Finally, Needham & Company LLC upped their target price on Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Monolithic Power Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,731.42.

Monolithic Power Systems Stock Performance

NASDAQ MPWR opened at $1,316.28 on Friday. Monolithic Power Systems, Inc. has a one year low of $800.97 and a one year high of $1,714.09. The company has a 50-day simple moving average of $1,373.38 and a 200-day simple moving average of $1,346.04. The firm has a market capitalization of $64.68 billion, a PE ratio of 80.70 and a beta of 1.69.

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

Monolithic Power Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. Monolithic Power Systems's dividend payout ratio (DPR) is 49.05%.

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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