Prudential Financial Inc. increased its position in shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,134 shares of the company’s stock after buying an additional 1,280 shares during the period. Prudential Financial Inc. owned approximately 0.23% of Monolithic Power Systems worth $6,499,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Monolithic Power Systems by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,492 shares of the company’s stock worth $102,000 after buying an additional 650 shares during the last quarter. BlackRock Inc. raised its stake in Monolithic Power Systems by 24.2% in the first quarter. BlackRock Inc. now owns 2,569 shares of the company’s stock worth $164,000 after buying an additional 501 shares during the last quarter. Shelton Capital Management acquired a new stake in Monolithic Power Systems during the second quarter worth $208,000. GSA Capital Partners LLP acquired a new stake in Monolithic Power Systems during the second quarter worth $209,000. Finally, Sawgrass Asset Management LLC acquired a new stake in Monolithic Power Systems during the second quarter worth $224,000. Institutional investors and hedge funds own 97.67% of the company’s stock.
Shares of Monolithic Power Systems Inc. (NASDAQ:MPWR) opened at 80.49 on Tuesday. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 77.47 and a beta of 1.43. The company’s 50-day moving average is $77.00 and its 200 day moving average is $69.92. Monolithic Power Systems Inc. has a 52-week low of $54.47 and a 52-week high of $81.37.
Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $93.08 million. Monolithic Power Systems had a net margin of 12.08% and a return on equity of 12.49%. Monolithic Power Systems’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, analysts expect that Monolithic Power Systems Inc. will post $2.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.80 annualized dividend and a yield of 0.99%. Monolithic Power Systems’s dividend payout ratio is currently 76.92%.
A number of analysts have recently weighed in on MPWR shares. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price objective (up previously from $76.00) on shares of Monolithic Power Systems in a research note on Thursday, September 22nd. Stifel Nicolaus increased their price objective on shares of Monolithic Power Systems from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. Zacks Investment Research lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, William Blair reiterated an “outperform” rating on shares of Monolithic Power Systems in a research note on Monday, September 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $75.00.
In related news, CEO Michael Hsing sold 21,094 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $72.66, for a total value of $1,532,690.04. Following the sale, the chief executive officer now directly owns 1,208,497 shares of the company’s stock, valued at approximately $87,809,392.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Deming Xiao sold 7,114 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $72.66, for a total transaction of $516,903.24. Following the completion of the sale, the insider now directly owns 284,286 shares in the company, valued at $20,656,220.76. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company 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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