Principal Financial Group Inc. raised its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 174,199 shares of the semiconductor company’s stock after purchasing an additional 6,934 shares during the period. Principal Financial Group Inc.’s holdings in Monolithic Power Systems were worth $190,463,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPWR. Corient Private Wealth LLC raised 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 worth $1,855,476,000 after purchasing an additional 1,993,576 shares during the last quarter. Norges Bank purchased a new position in shares of Monolithic Power Systems during the fourth quarter valued at approximately $658,656,000. Invesco Ltd. grew its holdings in 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 in the last quarter. SG Americas Securities LLC grew its holdings in Monolithic Power Systems by 77,483.1% during the fourth quarter. SG Americas Securities LLC now owns 262,231 shares of the semiconductor company’s stock worth $237,676,000 after buying an additional 261,893 shares in the last quarter. Finally, First Trust Advisors LP raised its position in 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 valued at $635,770,000 after buying an additional 253,653 shares during the last quarter. 93.46% of the stock is owned by institutional investors.
Monolithic Power Systems Trading Up 6.6%
Shares of Monolithic Power Systems stock opened at $1,376.41 on Wednesday. The business’s fifty day simple moving average is $1,503.31 and its 200 day simple moving average is $1,280.67. The firm has a market capitalization of $67.62 billion, a P/E ratio of 99.24, a price-to-earnings-growth ratio of 2.31 and a beta of 1.71. Monolithic Power Systems, Inc. has a 12 month low of $686.87 and a 12 month high of $1,714.09.
Monolithic Power Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued 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 is Tuesday, June 30th. Monolithic Power Systems’s payout ratio is 57.68%.
Insider Buying and Selling
In other Monolithic Power Systems news, Director Eugen J. Elmiger sold 12,000 shares of Monolithic Power Systems stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,584.96, for a total value of $19,019,520.00. Following the sale, the director owned 5,402 shares of the company’s stock, valued at approximately $8,561,953.92. The trade was a 68.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the executive vice president directly owned 144,218 shares in the company, valued at approximately $245,170,600. This represents a 4.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 69,370 shares of company stock worth $112,702,503 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MPWR shares. Wells Fargo & Company raised their price objective on Monolithic Power Systems from $1,650.00 to $1,860.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. KeyCorp upped their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 18th. Raymond James Financial reissued an “outperform” rating and set a $1,800.00 price target on shares of Monolithic Power Systems in a research report on Friday, May 1st. Finally, Stifel Nicolaus boosted 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 report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,599.17.
Read Our Latest Stock Analysis 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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