Monolithic Power Systems Inc. (MPWR) Stake Raised by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. raised its position in Monolithic Power Systems Inc. (NASDAQ:MPWR) by 31.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,358 shares of the company’s stock after buying an additional 1,984 shares during the period. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $571,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Chartwell Investment Partners LLC boosted its stake in Monolithic Power Systems by 83.1% in the second quarter. Chartwell Investment Partners LLC now owns 476,102 shares of the company’s stock worth $32,527,000 after buying an additional 216,079 shares during the last quarter. First Trust Advisors LP boosted its stake in Monolithic Power Systems by 7.9% in the second quarter. First Trust Advisors LP now owns 35,559 shares of the company’s stock worth $2,429,000 after buying an additional 2,616 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Monolithic Power Systems during the second quarter worth $209,000. EAM Investors LLC boosted its stake in Monolithic Power Systems by 4.2% in the second quarter. EAM Investors LLC now owns 46,093 shares of the company’s stock worth $3,149,000 after buying an additional 1,848 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in Monolithic Power Systems during the second quarter worth $286,000. 97.67% of the stock is owned by hedge funds and other institutional investors.
Monolithic Power Systems Inc. (NASDAQ:MPWR) traded down 1.19% during trading on Friday, hitting $76.44. The company’s stock had a trading volume of 189,165 shares. Monolithic Power Systems Inc. has a one year low of $48.74 and a one year high of $78.45. The company has a 50-day moving average of $75.13 and a 200 day moving average of $68.21. The firm has a market cap of $3.10 billion, a PE ratio of 73.57 and a beta of 1.58.
Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Monolithic Power Systems had a return on equity of 12.49% and a net margin of 12.08%. The business had revenue of $94.10 million for the quarter, compared to analyst estimates of $93.08 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, September 28th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 76.92%.
A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Monolithic Power Systems in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Monolithic Power Systems in a research report on Monday, September 12th. Stifel Nicolaus lifted their price target on Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Zacks Investment Research cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Monolithic Power Systems in a research report on Monday, June 6th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.00.
In related news, VP Saria Tseng sold 5,653 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $75.25, for a total value of $425,388.25. Following the transaction, the vice president now owns 274,112 shares of the company’s stock, valued at $20,626,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Deming Xiao sold 7,114 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $72.66, for a total value of $516,903.24. Following the completion of the transaction, the insider now directly owns 284,286 shares in the company, valued at approximately $20,656,220.76. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.
About Monolithic Power Systems
Monolithic Power Systems, Inc designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company provides power solutions for systems found in industrial applications, telecommunication infrastructures, cloud computing, automotive and consumer applications.
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