Synovus Financial Corp Sells 185 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Synovus Financial Corp lessened its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,388 shares of the semiconductor company’s stock after selling 185 shares during the quarter. Synovus Financial Corp’s holdings in Monolithic Power Systems were worth $2,596,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in Monolithic Power Systems during the 4th quarter worth $493,807,000. Van ECK Associates Corp boosted its holdings in Monolithic Power Systems by 73.3% during the fourth quarter. Van ECK Associates Corp now owns 776,026 shares of the semiconductor company’s stock worth $459,174,000 after purchasing an additional 328,203 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Monolithic Power Systems in the 4th quarter worth about $140,795,000. Bank of Nova Scotia increased its stake in Monolithic Power Systems by 1,320.0% in the 4th quarter. Bank of Nova Scotia now owns 161,800 shares of the semiconductor company’s stock valued at $95,737,000 after buying an additional 150,406 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Monolithic Power Systems by 39.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 358,777 shares of the semiconductor company’s stock worth $212,288,000 after buying an additional 101,156 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Maurice Sciammas sold 7,000 shares of Monolithic Power Systems stock in a transaction on Friday, February 7th. The shares were sold at an average price of $701.98, for a total value of $4,913,860.00. Following the transaction, the executive vice president now owns 16,015 shares in the company, valued at $11,242,209.70. This trade represents a 30.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $800.00 price objective on shares of Monolithic Power Systems in a research note on Friday, March 21st. Rosenblatt Securities reduced their price objective on shares of Monolithic Power Systems from $800.00 to $750.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on Monolithic Power Systems from $710.00 to $665.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. KeyCorp raised their target price on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Loop Capital upped their price target on Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $844.50.

Monolithic Power Systems Stock Performance

Monolithic Power Systems stock opened at $538.80 on Tuesday. Monolithic Power Systems, Inc. has a fifty-two week low of $438.86 and a fifty-two week high of $959.64. The stock has a market cap of $25.79 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21. The firm’s fifty day moving average price is $605.64 and its 200-day moving average price is $664.36.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. On average, analysts predict that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current year.

Monolithic Power Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.56 per share. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, March 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 16.97%.

About Monolithic Power Systems

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.