PNC Financial Services Group Inc. Increases Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

PNC Financial Services Group Inc. raised its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 13.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,139 shares of the semiconductor company’s stock after acquiring an additional 1,167 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $9,374,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its stake in Monolithic Power Systems by 6.6% during the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock worth $16,259,000 after purchasing an additional 1,082 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Monolithic Power Systems by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock valued at $3,741,000 after buying an additional 909 shares during the period. Cetera Investment Advisers increased its stake in shares of Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock worth $4,583,000 after buying an additional 4,760 shares during the period. Mizuho Securities USA LLC increased its stake in shares of Monolithic Power Systems by 1,118.2% during the third quarter. Mizuho Securities USA LLC now owns 45,733 shares of the semiconductor company’s stock worth $42,280,000 after buying an additional 41,979 shares during the period. Finally, Czech National Bank raised its holdings in Monolithic Power Systems by 9.8% in the second quarter. Czech National Bank now owns 9,274 shares of the semiconductor company’s stock valued at $7,620,000 after acquiring an additional 824 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Activity

In other news, EVP Deming Xiao sold 9,259 shares of the business’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 transaction, the executive vice president now directly owns 20,455 shares in the company, valued at $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $908.36, for a total transaction of $2,270,900.00. Following the completion of the sale, the chief financial officer now owns 59,178 shares of the company’s stock, valued at approximately $53,754,928.08. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,359 shares of company stock valued at $26,709,571. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MPWR shares. Rosenblatt Securities downgraded shares of Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Oppenheimer reaffirmed an “outperform” rating and set a $900.00 price target on shares of Monolithic Power Systems in a report on Monday, November 11th. TD Cowen dropped their price objective on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Loop Capital upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating and set a $660.00 price target on the stock in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $840.36.

Monolithic Power Systems Price Performance

MPWR stock opened at $580.81 on Friday. Monolithic Power Systems, Inc. has a 12 month low of $538.00 and a 12 month high of $959.64. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. The company has a fifty day moving average price of $832.97 and a 200 day moving average price of $822.93.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. As a group, analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 annualized dividend and a dividend yield of 0.86%. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 56.37%.

Monolithic Power Systems Company 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.