NewEdge Wealth LLC purchased a new position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,264 shares of the semiconductor company’s stock, valued at approximately $47,366,000.
Several other hedge funds have also recently bought and sold shares of MPWR. BlackRock Inc. acquired a new position in Monolithic Power Systems during the 2nd quarter valued at about $7,727,289,000. Corient Private Wealth LLC increased its stake in shares of Monolithic Power Systems by 3,719.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after purchasing an additional 1,993,576 shares during the period. Norges Bank bought a new stake in shares of Monolithic Power Systems during the fourth quarter valued at approximately $658,656,000. Royal Bank of Canada raised its holdings in shares of Monolithic Power Systems by 168.1% during the first quarter. Royal Bank of Canada now owns 473,368 shares of the semiconductor company’s stock valued at $517,557,000 after buying an additional 296,788 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Monolithic Power Systems by 25.9% during the fourth quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock worth $1,300,345,000 after buying an additional 295,556 shares during the period. 93.46% of the stock is currently owned by institutional investors.
Monolithic Power Systems Price Performance
NASDAQ MPWR opened at $1,300.14 on Thursday. Monolithic Power Systems, Inc. has a 12 month low of $800.97 and a 12 month high of $1,714.09. The firm has a market capitalization of $63.89 billion, a PE ratio of 79.71 and a beta of 1.69. The company’s 50 day simple moving average is $1,384.18 and its 200 day simple moving average is $1,344.93.
Monolithic Power Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems’s payout ratio is currently 49.05%.
Insider Transactions at Monolithic Power Systems
In related news, EVP Saria Tseng sold 7,565 shares of Monolithic Power Systems stock in a transaction dated 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 transaction, the executive vice president directly owned 144,218 shares of the company’s stock, valued at $245,170,600. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maurice Sciammas sold 30 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the completion of the sale, the executive vice president owned 1,119 shares in the company, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 13,191 shares of company stock worth $21,807,015. Corporate insiders own 3.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MPWR. Raymond James Financial reissued an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Wells Fargo & Company boosted their price target on Monolithic Power Systems from $1,700.00 to $1,800.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Truist Financial increased their price target on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen raised Monolithic Power Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Citigroup restated a “buy” rating on shares of 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 given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,705.82.
Get Our Latest Stock Analysis on MPWR
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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