Blue Trust Inc. lifted its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR – Free Report) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 906 shares of the semiconductor company’s stock after purchasing an additional 73 shares during the quarter. Blue Trust Inc.’s holdings in Monolithic Power Systems were worth $662,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Monolithic Power Systems by 13.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,719 shares of the semiconductor company’s stock valued at $2,157,000 after purchasing an additional 438 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Monolithic Power Systems in the first quarter valued at $204,000. Praxis Investment Management Inc. acquired a new position in Monolithic Power Systems during the first quarter worth $980,000. Jackson Wealth Management LLC raised its stake in Monolithic Power Systems by 29.5% during the first quarter. Jackson Wealth Management LLC now owns 2,896 shares of the semiconductor company’s stock worth $1,680,000 after acquiring an additional 659 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in Monolithic Power Systems by 52.6% during the first quarter. DAVENPORT & Co LLC now owns 653 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 225 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.
Monolithic Power Systems Stock Down 7.6%
Monolithic Power Systems stock opened at $904.44 on Monday. The business’s 50-day simple moving average is $867.96 and its 200 day simple moving average is $731.35. The stock has a market cap of $43.32 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 3.37 and a beta of 1.27. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $990.25.
Monolithic Power Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $1.56 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.24 annualized dividend and a yield of 0.7%. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 16.25%.
Insiders Place Their Bets
In other Monolithic Power Systems news, CFO Theodore Blegen sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $913.22, for a total transaction of $2,739,660.00. Following the transaction, the chief financial officer owned 37,940 shares in the company, valued at approximately $34,647,566.80. This trade represents a 7.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Zhou sold 400 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $850.00, for a total value of $340,000.00. Following the transaction, the director owned 5,804 shares in the company, valued at approximately $4,933,400. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,702 shares of company stock valued at $53,834,480 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $875.00 price objective (up from $720.00) on shares of Monolithic Power Systems in a research note on Friday, August 1st. Wells Fargo & Company increased their price objective on Monolithic Power Systems from $730.00 to $750.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Oppenheimer restated an “outperform” rating and set a $800.00 target price (up previously from $700.00) on shares of Monolithic Power Systems in a report on Tuesday, July 15th. Needham & Company LLC increased their target price on Monolithic Power Systems from $820.00 to $1,025.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Stifel Nicolaus increased their target price on Monolithic Power Systems from $880.00 to $930.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $880.50.
Check Out Our Latest Stock Analysis on Monolithic Power Systems
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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