Cullen Frost Bankers Inc. raised its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 17,835.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,049 shares of the semiconductor company’s stock after buying an additional 3,032 shares during the period. Cullen Frost Bankers Inc.’s holdings in Monolithic Power Systems were worth $2,230,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC bought a new position in Monolithic Power Systems during the first quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new position in Monolithic Power Systems during the second quarter valued at about $36,000. SouthState Corp bought a new position in Monolithic Power Systems during the first quarter valued at about $33,000. AdvisorNet Financial Inc raised its holdings in Monolithic Power Systems by 306.3% during the second quarter. AdvisorNet Financial Inc now owns 65 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 49 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Monolithic Power Systems in the second quarter worth about $48,000. 93.46% of the stock is currently owned by institutional investors.
Monolithic Power Systems Stock Up 6.9%
MPWR stock opened at $1,070.80 on Friday. Monolithic Power Systems, Inc. has a twelve month low of $438.86 and a twelve month high of $1,076.00. The company has a market cap of $51.28 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 3.73 and a beta of 1.27. The business’s 50-day simple moving average is $902.60 and its 200 day simple moving average is $757.99.
Monolithic Power Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.56 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.24 dividend on an annualized basis and a yield of 0.6%. Monolithic Power Systems’s dividend payout ratio (DPR) is 16.25%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Monolithic Power Systems in a research note on Wednesday, October 8th. Needham & Company LLC lifted their price objective on Monolithic Power Systems from $820.00 to $1,025.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Raymond James Financial reiterated an “outperform” rating and issued a $875.00 price objective (up from $720.00) on shares of Monolithic Power Systems in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on Monolithic Power Systems from $930.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Wolfe Research set a $1,200.00 price objective on Monolithic Power Systems and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $963.18.
View Our Latest Stock Report on Monolithic Power Systems
Insider Transactions at Monolithic Power Systems
In related news, EVP Saria Tseng sold 2,812 shares of Monolithic Power Systems stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $1,025.72, for a total transaction of $2,884,324.64. Following the sale, the executive vice president directly owned 127,654 shares of the company’s stock, valued at $130,937,260.88. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Zhou sold 193 shares of Monolithic Power Systems stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $870.00, for a total value of $167,910.00. Following the sale, the director directly owned 5,611 shares in the company, valued at approximately $4,881,570. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,542 shares of company stock valued at $70,973,777 in the last ninety days. 3.40% of the stock is owned by corporate insiders.
Monolithic Power Systems Company Profile
Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.
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