Resona Asset Management Co. Ltd. lessened its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,707 shares of the semiconductor company’s stock after selling 8,679 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Monolithic Power Systems were worth $61,662,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Corient Private Wealth LLC lifted its position in Monolithic Power Systems by 3,719.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock worth $1,855,476,000 after buying an additional 1,993,576 shares in the last quarter. Norges Bank purchased a new stake in Monolithic Power Systems in the 4th quarter valued at $658,656,000. Invesco Ltd. grew its holdings in Monolithic Power Systems by 25.9% in the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock valued at $1,300,345,000 after buying an additional 295,556 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Monolithic Power Systems by 77,483.1% in the 4th quarter. SG Americas Securities LLC now owns 262,231 shares of the semiconductor company’s stock worth $237,676,000 after acquiring an additional 261,893 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Monolithic Power Systems by 56.6% in the 4th quarter. First Trust Advisors LP now owns 701,454 shares of the semiconductor company’s stock worth $635,770,000 after acquiring an additional 253,653 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Monolithic Power Systems Stock Up 3.4%
NASDAQ:MPWR opened at $1,315.51 on Thursday. Monolithic Power Systems, Inc. has a 52 week low of $686.87 and a 52 week high of $1,714.09. The company has a market capitalization of $64.63 billion, a P/E ratio of 94.85, a P/E/G ratio of 2.28 and a beta of 1.71. The stock’s fifty day moving average is $1,520.10 and its two-hundred day moving average is $1,269.29.
Monolithic Power Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. Monolithic Power Systems’s dividend payout ratio is presently 57.68%.
Insider Activity at Monolithic Power Systems
In other news, EVP Saria Tseng sold 7,565 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,700.00, for a total value of $12,860,500.00. Following the sale, the executive vice president directly owned 144,218 shares of the company’s stock, valued at approximately $245,170,600. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Maurice Sciammas sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $1,561.40, for a total transaction of $18,736,800.00. Following the completion of the transaction, the executive vice president owned 166,644 shares in the company, valued at approximately $260,197,941.60. This represents a 6.72% 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. Insiders have sold a total of 69,370 shares of company stock valued at $112,702,503 over the last quarter. 3.60% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on MPWR. KeyCorp boosted their price target on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Oppenheimer set a $1,700.00 price objective on shares of Monolithic Power Systems in a research report on Friday, May 1st. Zacks Research raised shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of Monolithic Power Systems in a research note on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Monolithic Power Systems from $1,650.00 to $1,860.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Monolithic Power Systems has a consensus rating of “Moderate Buy” and an average target price of $1,599.17.
View Our Latest Report on Monolithic Power Systems
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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