Mitsubishi UFJ Trust & Banking Corp Sells 803 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 2.6% in the first quarter, HoldingsChannel reports. The fund owned 30,278 shares of the semiconductor company’s stock after selling 803 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Monolithic Power Systems were worth $20,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. RiverPark Advisors LLC bought a new stake in shares of Monolithic Power Systems during the 1st quarter valued at $27,000. OFI Invest Asset Management bought a new stake in shares of Monolithic Power Systems during the 1st quarter valued at $31,000. Arlington Trust Co LLC grew its position in shares of Monolithic Power Systems by 56.1% during the 4th quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 23 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Monolithic Power Systems during the 4th quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Monolithic Power Systems by 23.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 79 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 15 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

Shares of NASDAQ MPWR traded down $34.64 during mid-day trading on Friday, hitting $808.83. 624,447 shares of the company’s stock traded hands, compared to its average volume of 478,725. The company’s 50-day moving average is $795.03 and its two-hundred day moving average is $711.27. The company has a market capitalization of $39.37 billion, a P/E ratio of 96.40, a PEG ratio of 4.04 and a beta of 1.11. Monolithic Power Systems, Inc. has a 1 year low of $392.10 and a 1 year high of $891.67.

Monolithic Power Systems (NASDAQ:MPWR) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.02. The firm had revenue of $457.89 million for the quarter, compared to analysts’ expectations of $447.76 million. Monolithic Power Systems had a net margin of 22.44% and a return on equity of 21.01%. Equities analysts anticipate that Monolithic Power Systems, Inc. will post 10.37 EPS for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Friday, June 28th. Monolithic Power Systems’s dividend payout ratio is 59.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp lifted their target price on shares of Monolithic Power Systems from $850.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Monolithic Power Systems in a research note on Thursday, May 2nd. Oppenheimer boosted their price target on shares of Monolithic Power Systems from $750.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Wells Fargo & Company boosted their price target on shares of Monolithic Power Systems from $715.00 to $725.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Truist Financial boosted their price target on shares of Monolithic Power Systems from $789.00 to $799.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $806.13.

Insider Activity

In other news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the sale, the chief financial officer now directly owns 75,723 shares in the company, valued at approximately $50,226,308.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $663.29, for a total transaction of $1,658,225.00. Following the transaction, the chief financial officer now directly owns 75,723 shares in the company, valued at approximately $50,226,308.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deming Xiao sold 1,300 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $769.40, for a total transaction of $1,000,220.00. Following the transaction, the executive vice president now owns 206,418 shares in the company, valued at $158,818,009.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,310 shares of company stock worth $63,163,317. 3.20% of the stock is currently owned by corporate insiders.

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.