Principal Financial Group Inc. Purchases 13,676 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Principal Financial Group Inc. grew its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,003 shares of the semiconductor company's stock after acquiring an additional 13,676 shares during the quarter. Principal Financial Group Inc. owned 0.30% of Monolithic Power Systems worth $89,573,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MPWR. Arlington Trust Co LLC raised its holdings in shares of Monolithic Power Systems by 56.1% in the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company's stock worth $40,000 after buying an additional 23 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Monolithic Power Systems during the third quarter valued at $43,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Monolithic Power Systems in the 4th quarter valued at $43,000. Lindbrook Capital LLC grew its holdings in shares of Monolithic Power Systems by 137.0% in the 4th quarter. Lindbrook Capital LLC now owns 109 shares of the semiconductor company's stock worth $69,000 after purchasing an additional 63 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Monolithic Power Systems by 145.8% during the 4th quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company's stock worth $74,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 93.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MPWR. KeyCorp boosted their price target on shares of Monolithic Power Systems to $850.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. TD Cowen raised their price target on Monolithic Power Systems from $650.00 to $800.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Finally, Truist Financial lifted their price target on Monolithic Power Systems from $789.00 to $799.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Monolithic Power Systems has a consensus rating of "Moderate Buy" and an average price target of $743.78.

Insider Buying and Selling

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $725.76, for a total value of $1,814,400.00. Following the transaction, the chief financial officer now directly owns 80,723 shares of the company's stock, valued at $58,585,524.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Monolithic Power Systems news, EVP Maurice Sciammas sold 11,000 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $681.83, for a total transaction of $7,500,130.00. Following the completion of the sale, the executive vice president now owns 130,744 shares in the company, valued at approximately $89,145,181.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $725.76, for a total transaction of $1,814,400.00. Following the sale, the chief financial officer now owns 80,723 shares of the company's stock, valued at approximately $58,585,524.48. The disclosure for this sale can be found here. Insiders sold a total of 44,930 shares of company stock valued at $30,916,503 over the last ninety days. Insiders own 3.20% of the company's stock.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock traded up $10.66 during trading hours on Tuesday, reaching $713.71. 320,671 shares of the company's stock traded hands, compared to its average volume of 535,649. The firm has a market capitalization of $34.74 billion, a price-to-earnings ratio of 84.61, a PEG ratio of 3.63 and a beta of 1.22. Monolithic Power Systems, Inc. has a fifty-two week low of $392.10 and a fifty-two week high of $778.15. The firm's 50 day moving average is $677.21 and its 200-day moving average is $629.90.

About Monolithic Power Systems

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.