PNC Financial Services Group Inc. Raises Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

PNC Financial Services Group Inc. boosted its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,274 shares of the semiconductor company’s stock after purchasing an additional 988 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $5,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MPWR. Arlington Trust Co LLC boosted its position in Monolithic Power Systems by 56.1% during the fourth quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Operose Advisors LLC acquired a new stake in Monolithic Power Systems in the third quarter worth about $43,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Monolithic Power Systems in the fourth quarter worth about $43,000. EverSource Wealth Advisors LLC boosted its holdings in Monolithic Power Systems by 23.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 15 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Monolithic Power Systems by 137.0% in the fourth quarter. Lindbrook Capital LLC now owns 109 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Truist Financial raised their price target on Monolithic Power Systems from $789.00 to $799.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a report on Thursday, May 2nd. KeyCorp lifted their target price on Monolithic Power Systems to $850.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Oppenheimer lifted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $766.00.

Monolithic Power Systems Trading Up 3.0 %

Shares of MPWR stock opened at $852.56 on Wednesday. The stock has a 50 day moving average of $717.41 and a 200 day moving average of $676.00. The stock has a market cap of $41.50 billion, a P/E ratio of 101.62, a P/E/G ratio of 4.27 and a beta of 1.13. Monolithic Power Systems, Inc. has a twelve month low of $392.10 and a twelve month high of $856.30.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The business had revenue of $457.89 million during the quarter, compared to analysts’ expectations of $447.76 million. Monolithic Power Systems had a return on equity of 21.01% and a net margin of 22.44%. On average, research analysts predict that Monolithic Power Systems, Inc. will post 10.03 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, June 28th. Monolithic Power Systems’s dividend payout ratio is presently 59.59%.

Insider Transactions at Monolithic Power Systems

In other news, EVP Deming Xiao sold 1,300 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $769.40, for a total value of $1,000,220.00. Following the sale, the executive vice president now directly owns 206,418 shares of the company’s stock, valued at $158,818,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Deming Xiao sold 1,300 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $769.40, for a total value of $1,000,220.00. Following the sale, the executive vice president now directly owns 206,418 shares of the company’s stock, valued at $158,818,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $663.29, for a total value of $1,658,225.00. Following the completion of the sale, the chief financial officer now directly owns 75,723 shares in the company, valued at $50,226,308.67. The disclosure for this sale can be found here. Insiders have sold 46,046 shares of company stock valued at $31,842,373 over the last ninety days. Insiders own 3.20% of the company’s stock.

Monolithic Power Systems Profile

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.