PNC Financial Services Group Inc. Sells 695 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

PNC Financial Services Group Inc. cut its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,444 shares of the semiconductor company’s stock after selling 695 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Monolithic Power Systems were worth $5,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tradewinds Capital Management LLC grew its position in shares of Monolithic Power Systems by 120.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 44 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 24 shares during the period. West Oak Capital LLC grew its position in shares of Monolithic Power Systems by 990.9% in the 4th quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 545 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Monolithic Power Systems in the 3rd quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Monolithic Power Systems in the 4th quarter valued at approximately $39,000. Finally, Rakuten Securities Inc. grew its position in shares of Monolithic Power Systems by 410.0% in the 3rd quarter. Rakuten Securities Inc. now owns 51 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 41 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Monolithic Power Systems Trading Up 2.2 %

NASDAQ MPWR opened at $582.99 on Thursday. The company has a market cap of $27.91 billion, a PE ratio of 15.86, a PEG ratio of 2.60 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 stock has a 50 day moving average of $636.96 and a 200-day moving average of $721.68.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $3.17 earnings per share for the quarter, missing analysts’ consensus estimates of $4.01 by ($0.84). Monolithic Power Systems had a net margin of 80.95% and a return on equity of 20.36%. As a group, sell-side analysts predict that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, March 31st. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.25. Monolithic Power Systems’s dividend payout ratio is 16.97%.

Analyst Ratings Changes

Several brokerages recently issued reports on MPWR. Loop Capital boosted their price objective on Monolithic Power Systems from $660.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Oppenheimer reduced their price target on Monolithic Power Systems from $900.00 to $800.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Citigroup assumed coverage on Monolithic Power Systems in a research report on Wednesday, December 11th. They set a “buy” rating and a $700.00 price target for the company. Wells Fargo & Company upped their price target on Monolithic Power Systems from $610.00 to $710.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC upped their price target on Monolithic Power Systems from $600.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $866.17.

Insider Activity at Monolithic Power Systems

In other Monolithic Power Systems news, EVP Maurice Sciammas sold 7,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $701.98, for a total transaction of $4,913,860.00. Following the transaction, the executive vice president now owns 16,015 shares in the company, valued at $11,242,209.70. This trade represents a 30.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by company insiders.

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.