PNC Financial Services Group Inc. Raises Stock Position in Monolithic Power Systems, Inc. $MPWR

PNC Financial Services Group Inc. grew its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 6.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,172 shares of the semiconductor company’s stock after acquiring an additional 868 shares during the period. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $15,495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MPWR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Monolithic Power Systems during the 4th quarter worth $34,000. IFP Advisors Inc raised its position in Monolithic Power Systems by 171.4% during the 3rd quarter. IFP Advisors Inc now owns 38 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 24 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Monolithic Power Systems by 29.0% in the 4th quarter. Covestor Ltd now owns 40 shares of the semiconductor company’s stock worth $36,000 after buying an additional 9 shares during the period. Greenline Wealth Management LLC purchased a new stake in shares of Monolithic Power Systems in the 4th quarter worth $38,000. Finally, Torren Management LLC bought a new position in shares of Monolithic Power Systems during the 4th quarter worth $49,000. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Trading Down 4.5%

Shares of NASDAQ MPWR opened at $1,333.81 on Friday. Monolithic Power Systems, Inc. has a 12-month low of $704.02 and a 12-month high of $1,714.09. The stock’s fifty day simple moving average is $1,461.46 and its two-hundred day simple moving average is $1,301.85. The stock has a market capitalization of $65.53 billion, a PE ratio of 96.17, a price-to-earnings-growth ratio of 2.38 and a beta of 1.71.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $5.10 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $781.93 million. During the same period in the prior year, the business posted $4.04 EPS. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. On average, equities analysts predict that Monolithic Power Systems, Inc. will post 20.2 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given 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 is presently 57.68%.

Insider Buying and Selling at Monolithic Power Systems

In other news, Director Jeff Zhou sold 486 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $1,680.00, for a total value of $816,480.00. Following the sale, the director directly owned 3,800 shares in the company, valued at approximately $6,384,000. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deming Xiao sold 30,000 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,654.55, for a total transaction of $49,636,500.00. Following the completion of the transaction, the executive vice president directly owned 205,959 shares in the company, valued at approximately $340,769,463.45. The trade was a 12.71% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 69,370 shares of company stock valued at $112,702,503. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on MPWR shares. Raymond James Financial restated an “outperform” rating and set a $1,800.00 price target on shares of Monolithic Power Systems in a research note on Friday, May 1st. Rosenblatt Securities upped their price objective on shares of Monolithic Power Systems from $1,000.00 to $1,575.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Oppenheimer set a $1,700.00 target price on shares of Monolithic Power Systems in a report on Friday, May 1st. KeyCorp raised their target price 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. Finally, Citigroup reissued a “buy” rating on shares of Monolithic Power Systems in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,657.27.

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.