PNC Financial Services Group Inc. Increases Stock Holdings in Monolithic Power Systems, Inc. $MPWR

PNC Financial Services Group Inc. boosted its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWRFree Report) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,172 shares of the semiconductor company’s stock after buying an additional 868 shares during the period. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $15,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its holdings in 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 acquiring an additional 1,993,576 shares in the last quarter. Norges Bank acquired a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $658,656,000. Invesco Ltd. increased its holdings 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 valued at $1,300,345,000 after acquiring an additional 295,556 shares in the last quarter. First Trust Advisors LP raised its position 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 valued at $635,770,000 after purchasing an additional 253,653 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Monolithic Power Systems by 67.0% in the 4th quarter. Barclays PLC now owns 604,802 shares of the semiconductor company’s stock valued at $548,168,000 after purchasing an additional 242,740 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on MPWR shares. Weiss Ratings upgraded shares of Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. KeyCorp upped 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 note on Friday, May 1st. Truist Financial set a $1,805.00 price target on shares of Monolithic Power Systems in a report on Friday, May 1st. Citigroup reissued a “buy” rating on shares of Monolithic Power Systems in a report on Friday, May 1st. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,800.00 price objective on shares of Monolithic Power Systems in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,657.27.

View Our Latest Report on MPWR

Insider Activity

In other Monolithic Power Systems news, EVP Saria Tseng sold 7,565 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 owned 144,218 shares in the company, valued at approximately $245,170,600. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Maurice Sciammas sold 12,000 shares of the firm’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 sale, the executive vice president directly owned 166,644 shares in the company, valued at $260,197,941.60. The trade was a 6.72% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders own 3.60% of the company’s stock.

Monolithic Power Systems Stock Down 4.5%

Monolithic Power Systems stock opened at $1,333.81 on Friday. Monolithic Power Systems, Inc. has a 52 week low of $704.02 and a 52 week high of $1,714.09. The company has a market capitalization of $65.53 billion, a price-to-earnings ratio of 96.17, a price-to-earnings-growth ratio of 2.38 and a beta of 1.71. The stock has a 50-day moving average price of $1,461.46 and a 200 day moving average price of $1,301.85.

Monolithic Power Systems (NASDAQ:MPWRGet Free Report) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.90 by $0.20. Monolithic Power Systems had a return on equity of 19.58% and a net margin of 22.84%.The firm had revenue of $804.19 million for the quarter, compared to analyst estimates of $781.93 million. During the same quarter in the prior year, the firm earned $4.04 earnings per share. Monolithic Power Systems’s revenue for the quarter was up 26.1% on a year-over-year basis. Research analysts anticipate that Monolithic Power Systems, Inc. will post 20.2 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is 57.68%.

Monolithic Power Systems Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWRFree Report).

Institutional Ownership by Quarter for Monolithic Power Systems (NASDAQ:MPWR)

Receive News & Ratings for Monolithic Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monolithic Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.