Truist Financial Corp Has $4.24 Million Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Truist Financial Corp trimmed its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,159 shares of the semiconductor company’s stock after selling 33 shares during the quarter. Truist Financial Corp’s holdings in Monolithic Power Systems were worth $4,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Monolithic Power Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,519,940 shares of the semiconductor company’s stock valued at $3,739,318,000 after purchasing an additional 55,874 shares during the period. Wellington Management Group LLP boosted its stake in Monolithic Power Systems by 10.0% in the 4th quarter. Wellington Management Group LLP now owns 938,919 shares of the semiconductor company’s stock worth $592,251,000 after purchasing an additional 85,676 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Monolithic Power Systems by 4.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 483,812 shares of the semiconductor company’s stock valued at $327,743,000 after buying an additional 22,725 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Monolithic Power Systems by 10.4% during the second quarter. Van ECK Associates Corp now owns 354,461 shares of the semiconductor company’s stock valued at $291,254,000 after buying an additional 33,287 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Monolithic Power Systems by 95.1% in the first quarter. BNP Paribas Financial Markets now owns 305,146 shares of the semiconductor company’s stock worth $206,712,000 after buying an additional 148,771 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Price Performance

Shares of MPWR opened at $923.14 on Wednesday. Monolithic Power Systems, Inc. has a 1 year low of $392.10 and a 1 year high of $959.64. The stock has a 50 day simple moving average of $883.91 and a two-hundred day simple moving average of $795.67. The firm has a market cap of $44.94 billion, a P/E ratio of 110.03, a P/E/G ratio of 4.13 and a beta of 1.11.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.10. The company had revenue of $507.40 million during the quarter, compared to analysts’ expectations of $490.66 million. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.24%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. On average, equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.54%. Monolithic Power Systems’s dividend payout ratio is currently 59.59%.

Insider Activity

In related news, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $929.59, for a total transaction of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares in the company, valued at $96,518,400.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deming Xiao sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $950.00, for a total value of $9,500,000.00. Following the sale, the executive vice president now directly owns 29,714 shares of the company’s stock, valued at $28,228,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Maurice Sciammas sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the transaction, the executive vice president now directly owns 103,829 shares of the company’s stock, valued at $96,518,400.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,535 shares of company stock valued at $51,396,728. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

MPWR has been the subject of several recent analyst reports. TD Cowen raised shares of Monolithic Power Systems to a “strong-buy” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Raymond James increased their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Rosenblatt Securities boosted their target price on Monolithic Power Systems from $800.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Needham & Company LLC raised their price target on Monolithic Power Systems from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $959.90.

About Monolithic Power Systems

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.