Fifth Third Bancorp Buys 2,314 Shares of Monolithic Power Systems, Inc. $MPWR

Fifth Third Bancorp grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,935 shares of the semiconductor company’s stock after acquiring an additional 2,314 shares during the period. Fifth Third Bancorp’s holdings in Monolithic Power Systems were worth $13,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Monolithic Power Systems in the second quarter valued at approximately $438,014,000. JPMorgan Chase & Co. lifted its holdings in shares of Monolithic Power Systems by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 856,725 shares of the semiconductor company’s stock worth $626,592,000 after buying an additional 227,159 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of Monolithic Power Systems during the 3rd quarter worth $197,260,000. Rafferty Asset Management LLC increased its stake in shares of Monolithic Power Systems by 36.1% during the second quarter. Rafferty Asset Management LLC now owns 529,124 shares of the semiconductor company’s stock valued at $386,991,000 after buying an additional 140,269 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Monolithic Power Systems by 57.5% during the third quarter. Voya Investment Management LLC now owns 359,312 shares of the semiconductor company’s stock valued at $330,797,000 after buying an additional 131,177 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. KeyCorp increased their price objective on shares of Monolithic Power Systems from $1,300.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Rosenblatt Securities boosted their price objective on shares of Monolithic Power Systems from $950.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Wells Fargo & Company upped their target price on Monolithic Power Systems from $1,200.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Citigroup lifted their price target on Monolithic Power Systems from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $1,218.42.

Insider Transactions at Monolithic Power Systems

In related news, EVP Maurice Sciammas sold 27,966 shares of Monolithic Power Systems stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $881.66, for a total transaction of $24,656,503.56. Following the completion of the sale, the executive vice president owned 148,306 shares of the company’s stock, valued at $130,755,467.96. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deming Xiao sold 22,875 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $1,171.16, for a total value of $26,790,285.00. Following the completion of the sale, the executive vice president owned 235,932 shares in the company, valued at approximately $276,314,121.12. This represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 160,726 shares of company stock valued at $170,024,209. 3.40% of the stock is owned by company insiders.

Monolithic Power Systems Trading Up 1.3%

Shares of Monolithic Power Systems stock opened at $1,171.47 on Tuesday. Monolithic Power Systems, Inc. has a 12-month low of $438.86 and a 12-month high of $1,250.00. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 2.97 and a beta of 1.45. The firm’s 50 day simple moving average is $1,030.56 and its two-hundred day simple moving average is $954.81.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.74 by $0.05. The business had revenue of $751.16 million during the quarter, compared to the consensus estimate of $741.69 million. Monolithic Power Systems had a net margin of 22.07% and a return on equity of 18.09%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $2.00 dividend. This is a boost from Monolithic Power Systems’s previous quarterly dividend of $1.56. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Monolithic Power Systems’s dividend payout ratio is currently 48.98%.

Monolithic Power Systems Company Profile

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.