Pinnacle Financial Partners Inc Buys 2,485 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Pinnacle Financial Partners Inc increased its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,585 shares of the semiconductor company’s stock after purchasing an additional 2,485 shares during the period. Pinnacle Financial Partners Inc’s holdings in Monolithic Power Systems were worth $12,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in Monolithic Power Systems in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC bought a new stake in Monolithic Power Systems in the 4th quarter worth approximately $29,000. Itau Unibanco Holding S.A. lifted its stake in Monolithic Power Systems by 637.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 59 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 51 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Monolithic Power Systems during the fourth quarter valued at about $41,000. Finally, Global Financial Private Client LLC boosted its stake in Monolithic Power Systems by 265.0% during the first quarter. Global Financial Private Client LLC now owns 73 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Transactions at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 12,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $701.00, for a total value of $8,412,000.00. Following the completion of the transaction, the executive vice president owned 4,015 shares in the company, valued at approximately $2,814,515. This represents a 74.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kuo Wei Herbert Chang sold 100 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $698.00, for a total value of $69,800.00. Following the completion of the sale, the director owned 676 shares in the company, valued at approximately $471,848. This represents a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock valued at $8,546,800 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup lifted their price target on shares of Monolithic Power Systems from $700.00 to $785.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Oppenheimer reiterated an “outperform” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Friday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $800.00 target price on shares of Monolithic Power Systems in a research report on Friday, May 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $720.00 price target (down from $925.00) on shares of Monolithic Power Systems in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Monolithic Power Systems from $665.00 to $695.00 and gave the company an “equal weight” rating in a research report on Monday, June 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $789.42.

Monolithic Power Systems Trading Down 0.2%

MPWR traded down $1.85 on Wednesday, hitting $745.12. 8,395 shares of the company’s stock were exchanged, compared to its average volume of 797,874. Monolithic Power Systems, Inc. has a twelve month low of $438.86 and a twelve month high of $959.64. The stock has a fifty day moving average of $675.49 and a two-hundred day moving average of $630.50. The firm has a market cap of $35.68 billion, a PE ratio of 19.84, a P/E/G ratio of 2.90 and a beta of 1.20.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.04. The business had revenue of $637.55 million during the quarter, compared to analyst estimates of $633.43 million. Monolithic Power Systems had a return on equity of 19.80% and a net margin of 76.59%. The company’s revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. On average, analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current year.

Monolithic Power Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Monday, June 30th. Monolithic Power Systems’s payout ratio is currently 16.56%.

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.