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

Huntington National Bank boosted its position in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 821 shares of the semiconductor company’s stock after purchasing an additional 25 shares during the quarter. Huntington National Bank’s holdings in Monolithic Power Systems were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MPWR. The Manufacturers Life Insurance Company increased its stake in shares of Monolithic Power Systems by 311.8% during 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 period. Canada Pension Plan Investment Board increased its position in Monolithic Power Systems by 1,947.1% during 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 purchasing an additional 136,391 shares during the period. International Assets Investment Management LLC raised its holdings in shares of 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. Van ECK Associates Corp lifted its position in shares of Monolithic Power Systems by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock worth $395,715,000 after purchasing an additional 93,362 shares during the period. Finally, National Bank of Canada FI lifted 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 worth $70,435,000 after purchasing an additional 67,444 shares during the period. 93.46% of the stock is owned by institutional investors.

Monolithic Power Systems Stock Down 0.6 %

Shares of Monolithic Power Systems stock opened at $573.38 on Friday. The company has a 50 day moving average price of $856.47 and a 200 day moving average price of $826.00. The firm has a market capitalization of $27.97 billion, a P/E ratio of 64.64, a PEG ratio of 2.86 and a beta of 1.15. Monolithic Power Systems, Inc. has a 52 week low of $532.86 and a 52 week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly 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). Monolithic Power Systems had a return on equity of 20.44% and a net margin of 21.29%. The company had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. As a group, research analysts anticipate that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.00 dividend on an annualized basis and a yield of 0.87%. Monolithic Power Systems’s dividend payout ratio is currently 56.37%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James upped their target price on Monolithic Power Systems from $770.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $994.00 price objective (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. Rosenblatt Securities lowered Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. TD Cowen decreased their price target on shares of Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer restated an “outperform” rating and issued a $900.00 price target on shares of Monolithic Power Systems in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $916.73.

Insider Buying and Selling at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now owns 61,678 shares in the company, valued at $55,769,247.60. This represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deming Xiao sold 9,259 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the transaction, the executive vice president now owns 20,455 shares in the company, valued at approximately $19,432,250. This trade represents a 31.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,359 shares of company stock worth $36,209,571. 3.70% of the stock is currently owned by 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.