Huntington National Bank Grows Stock Holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Huntington National Bank lifted its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.1% in the third quarter, HoldingsChannel reports. The firm owned 821 shares of the semiconductor company’s stock after buying an additional 25 shares during the period. Huntington National Bank’s holdings in Monolithic Power Systems were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPWR. The Manufacturers Life Insurance Company lifted its position in Monolithic Power Systems by 311.8% in the second quarter. The Manufacturers Life Insurance Company now owns 186,592 shares of the semiconductor company’s stock valued at $153,319,000 after buying an additional 141,277 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Monolithic Power Systems by 1,947.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 143,396 shares of the semiconductor company’s stock valued at $117,826,000 after buying an additional 136,391 shares during the period. International Assets Investment Management LLC grew its stake in Monolithic Power Systems by 92,842.9% during the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock worth $114,281,000 after purchasing an additional 123,481 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Monolithic Power Systems by 26.3% during the third quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after buying an additional 93,362 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Monolithic Power Systems by 364.2% in the 2nd quarter. National Bank of Canada FI now owns 85,960 shares of the semiconductor company’s stock valued at $70,435,000 after purchasing an additional 67,444 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

MPWR has been the topic of a number of research analyst reports. Loop Capital started coverage on shares of Monolithic Power Systems in a report on Monday, November 11th. They set a “hold” rating and a $660.00 price objective on the stock. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $950.00 price objective on shares of Monolithic Power Systems in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Rosenblatt Securities downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $916.73.

Insider Transactions at Monolithic Power Systems

In other news, CFO Theodore Blegen sold 734 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $765.15, for a total transaction of $561,620.10. Following the completion of the sale, the chief financial officer now directly owns 55,944 shares of the company’s stock, valued at $42,805,551.60. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Maurice Sciammas sold 11,000 shares of Monolithic Power Systems stock in a transaction on Monday, October 7th. The stock was sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares in the company, valued at $96,518,400.11. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,359 shares of company stock valued at $36,209,571. Corporate insiders own 3.70% of the company’s stock.

Monolithic Power Systems Trading Down 0.6 %

MPWR opened at $573.38 on Friday. Monolithic Power Systems, Inc. has a twelve month low of $532.86 and a twelve month high of $959.64. The stock has a market cap of $27.97 billion, a PE ratio of 64.64, a price-to-earnings-growth ratio of 2.86 and a beta of 1.15. The business’s 50 day moving average is $856.47 and its 200-day moving average is $826.00.

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

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 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.