Fifth Third Wealth Advisors LLC Takes Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Fifth Third Wealth Advisors LLC acquired a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 423 shares of the semiconductor company’s stock, valued at approximately $348,000.

Other hedge funds have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. lifted its holdings in Monolithic Power Systems by 8.3% in the second quarter. Atria Wealth Solutions Inc. now owns 15,773 shares of the semiconductor company’s stock worth $12,963,000 after purchasing an additional 1,209 shares during the period. Geneva Partners LLC lifted its stake in shares of Monolithic Power Systems by 3.1% in the 2nd quarter. Geneva Partners LLC now owns 6,509 shares of the semiconductor company’s stock worth $5,348,000 after acquiring an additional 198 shares during the period. Summit Global Investments lifted its stake in shares of Monolithic Power Systems by 83.5% in the 2nd quarter. Summit Global Investments now owns 1,848 shares of the semiconductor company’s stock worth $1,518,000 after acquiring an additional 841 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Monolithic Power Systems by 28.4% in the second quarter. Pallas Capital Advisors LLC now owns 498 shares of the semiconductor company’s stock valued at $420,000 after acquiring an additional 110 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Monolithic Power Systems by 25.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,316 shares of the semiconductor company’s stock valued at $14,228,000 after acquiring an additional 3,555 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James boosted their price objective on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Rosenblatt Securities upped their price target on shares of Monolithic Power Systems from $800.00 to $880.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer raised their price objective on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. KeyCorp boosted their target price on shares of Monolithic Power Systems from $975.00 to $1,075.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial raised their target price on shares of Monolithic Power Systems from $799.00 to $918.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $912.30.

Insiders Place Their Bets

In related news, CEO Michael Hsing sold 2,790 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $778.39, for a total value of $2,171,708.10. Following the completion of the sale, the chief executive officer now directly owns 865,332 shares in the company, valued at $673,565,775.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Hsing sold 2,790 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $778.39, for a total value of $2,171,708.10. Following the sale, the chief executive officer now directly owns 865,332 shares of the company’s stock, valued at $673,565,775.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Theodore Blegen sold 2,416 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $731.43, for a total value of $1,767,134.88. Following the transaction, the chief financial officer now directly owns 72,486 shares of the company’s stock, valued at approximately $53,018,434.98. The disclosure for this sale can be found here. Insiders sold 86,956 shares of company stock valued at $70,200,158 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Monolithic Power Systems Stock Up 4.7 %

Shares of MPWR traded up $42.47 during trading hours on Wednesday, reaching $947.16. The company’s stock had a trading volume of 505,966 shares, compared to its average volume of 535,721. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 112.89, a P/E/G ratio of 3.92 and a beta of 1.11. The company has a 50 day moving average of $836.35 and a two-hundred day moving average of $749.91. Monolithic Power Systems, Inc. has a 1-year low of $392.10 and a 1-year high of $952.01.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. Monolithic Power Systems had a net margin of 21.70% and a return on equity of 20.63%. The business had revenue of $507.40 million for the quarter, compared to the consensus estimate of $490.66 million. During the same period in the prior year, the business posted $2.05 earnings per share. Monolithic Power Systems’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Monolithic Power Systems, Inc. will post 10.37 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s payout ratio is presently 59.59%.

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.