PNC Financial Services Group Inc. Sells 695 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

PNC Financial Services Group Inc. decreased its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,444 shares of the semiconductor company's stock after selling 695 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Monolithic Power Systems were worth $5,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Monolithic Power Systems in the 3rd quarter valued at $36,000. Tradewinds Capital Management LLC grew its stake in Monolithic Power Systems by 120.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company's stock valued at $26,000 after buying an additional 24 shares during the last quarter. Rakuten Securities Inc. grew its stake in Monolithic Power Systems by 410.0% in the 3rd quarter. Rakuten Securities Inc. now owns 51 shares of the semiconductor company's stock valued at $47,000 after buying an additional 41 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Monolithic Power Systems in the 4th quarter valued at $39,000. Finally, Versant Capital Management Inc grew its stake in Monolithic Power Systems by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 109 shares of the semiconductor company's stock valued at $64,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

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Insiders Place Their Bets

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 16,015 shares of the company's stock, valued at approximately $11,242,209.70. The trade was a 30.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

MPWR has been the topic of several research analyst reports. Needham & Company LLC raised their price target on shares of Monolithic Power Systems from $600.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Oppenheimer decreased their price target on shares of Monolithic Power Systems from $900.00 to $800.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities restated a "neutral" rating and issued a $880.00 price target on shares of Monolithic Power Systems in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of Monolithic Power Systems from $610.00 to $710.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Citigroup initiated coverage on shares of Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a "buy" rating and a $700.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Monolithic Power Systems has a consensus rating of "Moderate Buy" and an average price target of $866.17.

Monolithic Power Systems Trading Up 6.1 %

MPWR stock traded up $34.85 during trading on Friday, hitting $606.06. 915,963 shares of the stock traded hands, compared to its average volume of 891,022. Monolithic Power Systems, Inc. has a one year low of $546.71 and a one year high of $959.64. The stock has a market cap of $29.01 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 2.60 and a beta of 1.03. The company has a 50 day simple moving average of $636.23 and a 200 day simple moving average of $716.92.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. As a group, analysts predict that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.56 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Monolithic Power Systems's previous quarterly dividend of $1.25. This represents a $6.24 dividend on an annualized basis and a dividend yield of 1.03%. Monolithic Power Systems's payout ratio is currently 16.97%.

Monolithic Power Systems 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.