Fifth Third Bancorp Decreases Stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Fifth Third Bancorp lessened its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 20.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,234 shares of the semiconductor company’s stock after selling 1,887 shares during the quarter. Fifth Third Bancorp’s holdings in Monolithic Power Systems were worth $4,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in Monolithic Power Systems by 11.4% in the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after buying an additional 361,416 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock worth $1,230,626,000 after acquiring an additional 133,838 shares during the period. International Assets Investment Management LLC increased its stake in Monolithic Power Systems by 92,842.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,614 shares of the semiconductor company’s stock valued at $114,281,000 after purchasing an additional 123,481 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in Monolithic Power Systems by 104.4% during the third quarter. Whale Rock Capital Management LLC now owns 200,490 shares of the semiconductor company’s stock worth $185,353,000 after purchasing an additional 102,380 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Monolithic Power Systems by 14,315.6% during the third quarter. Jennison Associates LLC now owns 101,918 shares of the semiconductor company’s stock worth $94,223,000 after purchasing an additional 101,211 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $600.00, for a total transaction of $1,500,000.00. Following the transaction, the chief financial officer now owns 53,444 shares in the company, valued at $32,066,400. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 866 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $765.14, for a total value of $662,611.24. Following the completion of the sale, the executive vice president now owns 162,239 shares of the company’s stock, valued at approximately $124,135,548.46. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,600 shares of company stock worth $4,656,631. 3.70% of the stock is owned by insiders.

Monolithic Power Systems Price Performance

MPWR opened at $678.43 on Monday. The stock has a market capitalization of $33.09 billion, a price-to-earnings ratio of 76.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.03. Monolithic Power Systems, Inc. has a 12 month low of $546.71 and a 12 month high of $959.64. The business has a 50-day moving average of $604.82 and a two-hundred day moving average of $767.95.

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

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Tuesday, December 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 56.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MPWR shares. Citigroup started coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price target for the company. KeyCorp cut their target price on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company initiated coverage on shares of Monolithic Power Systems in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $610.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $900.00 price objective on shares of Monolithic Power Systems in a research report on Monday, November 11th. Finally, TD Cowen lowered their target price 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $828.67.

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.