Principal Financial Group Inc. decreased its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 32.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,064 shares of the semiconductor company's stock after selling 38,716 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Monolithic Power Systems worth $74,945,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company's stock valued at $3,253,664,000 after buying an additional 361,416 shares during the period. The Manufacturers Life Insurance Company raised its position in Monolithic Power Systems by 311.8% in the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company's stock worth $153,319,000 after acquiring an additional 141,277 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Monolithic Power Systems by 1,947.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company's stock valued at $117,826,000 after acquiring an additional 136,391 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Monolithic Power Systems by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company's stock valued at $1,230,626,000 after purchasing an additional 133,838 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company's stock worth $114,281,000 after purchasing an additional 123,481 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.
Insider Buying and Selling at Monolithic Power Systems
In other Monolithic Power Systems news, EVP Deming Xiao sold 866 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.14, for a total transaction of $662,611.24. Following the completion of the sale, the executive vice president now owns 162,239 shares of the company's stock, valued at $124,135,548.46. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief financial officer now directly owns 53,444 shares in the company, valued at approximately $32,066,400. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,100 shares of company stock worth $17,153,021 over the last ninety days. 3.70% of the stock is currently owned by insiders.
Monolithic Power Systems Trading Up 0.7 %
NASDAQ:MPWR traded up $4.07 on Friday, hitting $593.22. 2,364,810 shares of the company's stock traded hands, compared to its average volume of 962,286. The company has a market cap of $28.94 billion, a PE ratio of 66.88, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. Monolithic Power Systems, Inc. has a 1 year low of $546.71 and a 1 year high of $959.64. The firm has a 50-day moving average price of $698.15 and a 200-day moving average price of $803.01.
Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts' consensus estimates of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million for the quarter, compared to analysts' expectations of $600.10 million. On average, research analysts forecast that Monolithic Power Systems, Inc. will post 10.46 EPS for the current fiscal year.
Monolithic Power Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.84%. The ex-dividend date is Tuesday, December 31st. Monolithic Power Systems's payout ratio is presently 56.37%.
Wall Street Analyst Weigh In
MPWR has been the subject of several recent research reports. Loop Capital raised shares of Monolithic Power Systems from a "hold" rating to a "buy" rating and set a $660.00 target price for the company in a research note on Monday, November 18th. Wells Fargo & Company initiated coverage on Monolithic Power Systems in a research report on Friday, November 22nd. They set an "equal weight" rating and a $610.00 price objective for the company. Rosenblatt Securities cut Monolithic Power Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Citigroup initiated coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They set a "buy" rating and a $700.00 target price on the stock. Finally, TD Cowen decreased their price target on Monolithic Power Systems from $1,100.00 to $975.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $828.67.
Check Out Our Latest Report on Monolithic Power Systems
About Monolithic Power Systems
(
Free Report)
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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