Daiichi Life Insurance Co. Ltd. bought a new position in 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 and Exchange Commission. The firm bought 2,580 shares of the semiconductor company’s stock, valued at approximately $3,566,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Commerce Bank purchased a new position in Monolithic Power Systems during the second quarter worth about $15,106,000. Northwestern Mutual Wealth Management Co. acquired a new position in Monolithic Power Systems during the 2nd quarter worth approximately $3,264,000. Evolve Private Wealth LLC purchased a new position in shares of Monolithic Power Systems during the 2nd quarter worth approximately $2,531,000. Varma Mutual Pension Insurance Co purchased a new position in shares of Monolithic Power Systems during the 2nd quarter worth approximately $12,718,000. Finally, George Kaiser Family Foundation acquired a new stake in shares of Monolithic Power Systems in the 2nd quarter valued at approximately $419,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Monolithic Power Systems Price Performance
MPWR opened at $1,316.28 on Monday. Monolithic Power Systems, Inc. has a 1-year low of $800.97 and a 1-year high of $1,714.09. The stock has a market cap of $64.69 billion, a P/E ratio of 80.70 and a beta of 1.69. The stock’s 50 day simple moving average is $1,373.38 and its 200 day simple moving average is $1,347.25.
Monolithic Power Systems Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid 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 payout ratio is 49.05%.
Insider Transactions at Monolithic Power Systems
In other Monolithic Power Systems news, EVP Maurice Sciammas sold 30 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the completion of the transaction, the executive vice president directly owned 1,119 shares in the company, valued at approximately $1,503,868.86. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeff Zhou sold 486 shares of Monolithic Power Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total transaction of $816,480.00. Following the transaction, the director owned 3,800 shares of the company’s stock, valued at approximately $6,384,000. The trade was a 11.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,191 shares of company stock worth $13,874,865. Corporate insiders own 3.60% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on MPWR. Arete Research set a $2,013.00 price objective on Monolithic Power Systems and gave the stock a “buy” rating in a report on Thursday. Citigroup restated a “buy” rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. KeyCorp upped their price target on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Raymond James Financial reiterated an “outperform” rating on shares of Monolithic Power Systems in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,731.42.
View Our Latest Report 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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