Principal Financial Group Inc. Lowers Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Principal Financial Group Inc. trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 32.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 81,064 shares of the semiconductor company’s stock after selling 38,716 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Monolithic Power Systems worth $74,945,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Advisor Resource Council purchased a new stake in Monolithic Power Systems during the 3rd quarter valued at $275,000. Graypoint LLC raised its stake in Monolithic Power Systems by 3.9% during the 3rd quarter. Graypoint LLC now owns 403 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 15 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in Monolithic Power Systems during the 3rd quarter valued at $210,000. Crestwood Advisors Group LLC raised its stake in Monolithic Power Systems by 15.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 291 shares of the semiconductor company’s stock valued at $269,000 after buying an additional 40 shares during the last quarter. Finally, United Advisor Group LLC purchased a new stake in Monolithic Power Systems during the 3rd quarter valued at $303,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $761.30 on Friday. The company has a fifty day moving average of $881.04 and a 200 day moving average of $829.10. Monolithic Power Systems, Inc. has a fifty-two week low of $480.43 and a fifty-two week high of $959.64. The company has a market capitalization of $37.14 billion, a P/E ratio of 85.83, a P/E/G ratio of 3.74 and a beta of 1.15.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.05). Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. The company had revenue of $620.12 million for the quarter, compared to the consensus estimate of $600.10 million. Analysts forecast that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 56.37%.

Analyst Ratings Changes

A number of brokerages have weighed in on MPWR. Truist Financial reiterated a “buy” rating and set a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Needham & Company LLC cut their price objective on shares of Monolithic Power Systems from $1,000.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Raymond James boosted their price objective on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. TD Cowen cut their price objective on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Monolithic Power Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $942.40.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Deming Xiao sold 9,259 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the transaction, the executive vice president now owns 20,455 shares of the company’s stock, valued at $19,432,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Deming Xiao sold 9,259 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the sale, the executive vice president now directly owns 20,455 shares in the company, valued at approximately $19,432,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the sale, the chief financial officer now owns 61,678 shares in the company, valued at $55,769,247.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,759 shares of company stock valued at $34,985,340 in the last 90 days. Insiders own 3.70% of the company’s stock.

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.