Park National Corp OH Decreases Stock Holdings in Monolithic Power Systems, Inc. $MPWR

Park National Corp OH lessened its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 25.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,082 shares of the semiconductor company’s stock after selling 5,581 shares during the quarter. Park National Corp OH’s holdings in Monolithic Power Systems were worth $21,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Monolithic Power Systems in the second quarter worth about $7,727,289,000. State Street Corp grew its stake in shares of Monolithic Power Systems by 4.3% during the 2nd quarter. State Street Corp now owns 2,282,186 shares of the semiconductor company’s stock valued at $3,159,219,000 after acquiring an additional 93,732 shares during the period. Corient Private Wealth LLC increased its holdings in Monolithic Power Systems by 3,719.6% in the 4th quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock worth $1,855,476,000 after acquiring an additional 1,993,576 shares in the last quarter. Invesco Ltd. raised its stake in Monolithic Power Systems by 25.9% during the 4th quarter. Invesco Ltd. now owns 1,434,689 shares of the semiconductor company’s stock worth $1,300,345,000 after acquiring an additional 295,556 shares during the period. Finally, Van ECK Associates Corp raised its stake in Monolithic Power Systems by 42.3% during the 2nd quarter. Van ECK Associates Corp now owns 746,237 shares of the semiconductor company’s stock worth $1,031,568,000 after acquiring an additional 221,666 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Monolithic Power Systems Trading Up 0.6%

Shares of MPWR traded up $8.54 during mid-day trading on Monday, hitting $1,448.27. The company’s stock had a trading volume of 221,831 shares, compared to its average volume of 726,461. The firm has a market capitalization of $71.17 billion, a price-to-earnings ratio of 88.59 and a beta of 1.68. Monolithic Power Systems, Inc. has a 52-week low of $833.18 and a 52-week high of $1,714.09. The company’s 50-day moving average is $1,302.39 and its 200-day moving average is $1,374.50.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $0.63. The business had revenue of $980.64 million for the quarter, compared to the consensus estimate of $903.30 million. Monolithic Power Systems had a return on equity of 22.31% and a net margin of 24.41%.The business’s revenue was up 47.6% compared to the same quarter last year. During the same period last year, the business posted $4.21 EPS. As a group, sell-side analysts predict that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Monolithic Power Systems’s dividend payout ratio is currently 49.05%.

Wall Street Analysts Forecast Growth

MPWR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Rosenblatt Securities restated a “neutral” rating and set a $1,575.00 target price on shares of Monolithic Power Systems in a research note on Friday, July 31st. KeyCorp upped their price objective on Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Truist Financial raised their price objective on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Needham & Company LLC boosted their price target on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,731.42.

Insider Transactions at Monolithic Power Systems

In other news, EVP Maurice Sciammas sold 30 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total transaction of $40,318.20. Following the transaction, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $1,281.57, for a total transaction of $64,078.50. Following the completion of the sale, the director owned 515 shares of the company’s stock, valued at $660,008.55. This trade represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 130 shares of company stock valued at $175,397. 3.60% of the stock is currently owned by company insiders.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc (NASDAQ: MPWR) is a semiconductor company that designs, develops and markets high-performance power-management solutions. Its products help convert, regulate and control electrical power in electronic systems, with applications spanning computing and storage, automotive, industrial, communications infrastructure, consumer electronics and other markets.

The company’s product portfolio includes power-management integrated circuits, DC-to-DC converters, power modules, battery-charging and management solutions, LED drivers, motor drivers, voltage regulators and related analog and mixed-signal devices.