Monolithic Power Systems, Inc. $MPWR Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp grew its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 43,070.6% during the third quarter, HoldingsChannel reports. The firm owned 7,339 shares of the semiconductor company’s stock after buying an additional 7,322 shares during the period. Atlantic Union Bankshares Corp’s holdings in Monolithic Power Systems were worth $6,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Monolithic Power Systems during the 2nd quarter worth $438,014,000. JPMorgan Chase & Co. grew its stake in shares of Monolithic Power Systems by 36.1% during the second quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock valued at $626,592,000 after acquiring an additional 227,159 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Monolithic Power Systems during the third quarter worth about $197,260,000. Rafferty Asset Management LLC lifted its stake in shares of Monolithic Power Systems by 36.1% in the second quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock worth $386,991,000 after acquiring an additional 140,269 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Monolithic Power Systems by 57.5% in the third quarter. Voya Investment Management LLC now owns 359,312 shares of the semiconductor company’s stock valued at $330,797,000 after purchasing an additional 131,177 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial lifted their price objective on Monolithic Power Systems from $1,163.00 to $1,375.00 and gave the stock a “buy” rating in a report on Friday, December 19th. TD Cowen restated a “buy” rating on shares of Monolithic Power Systems in a research note on Friday, October 31st. Rosenblatt Securities upped their price target on shares of Monolithic Power Systems from $800.00 to $950.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Citigroup raised their price objective on shares of Monolithic Power Systems from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, KeyCorp upped their target price on shares of Monolithic Power Systems from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Monolithic Power Systems currently has a consensus rating of “Buy” and an average price target of $1,135.42.

Insider Activity at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 3,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $908.21, for a total transaction of $2,724,630.00. Following the completion of the transaction, the chief financial officer directly owned 71,332 shares in the company, valued at $64,784,435.72. This represents a 4.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Victor K. Lee sold 1,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $951.72, for a total value of $951,720.00. Following the completion of the sale, the director directly owned 28,567 shares in the company, valued at $27,187,785.24. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 66,976 shares of company stock valued at $60,297,127. 3.40% of the stock is owned by insiders.

Monolithic Power Systems Stock Performance

Shares of NASDAQ:MPWR opened at $1,173.22 on Tuesday. The company’s fifty day moving average is $984.40 and its two-hundred day moving average is $923.06. Monolithic Power Systems, Inc. has a 1-year low of $438.86 and a 1-year high of $1,188.66. The stock has a market capitalization of $56.21 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 3.16 and a beta of 1.45.

Monolithic Power Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, December 31st. Monolithic Power Systems’s payout ratio is presently 15.93%.

Monolithic Power Systems Company Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.