Truist Financial Corp Buys 2,793 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Truist Financial Corp increased its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 60.3% during the fourth quarter, HoldingsChannel reports. The firm owned 7,428 shares of the semiconductor company’s stock after acquiring an additional 2,793 shares during the period. Truist Financial Corp’s holdings in Monolithic Power Systems were worth $4,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of MPWR. West Oak Capital LLC increased its position in Monolithic Power Systems by 990.9% in the fourth quarter. West Oak Capital LLC now owns 600 shares of the semiconductor company’s stock worth $32,000 after buying an additional 545 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Monolithic Power Systems during the 3rd quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Monolithic Power Systems during the 4th quarter worth $39,000. Rakuten Securities Inc. increased its holdings in Monolithic Power Systems by 410.0% in the 3rd quarter. Rakuten Securities Inc. now owns 51 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 41 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Monolithic Power Systems by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 109 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of MPWR stock opened at $661.08 on Monday. Monolithic Power Systems, Inc. has a 52-week low of $546.71 and a 52-week high of $959.64. The business’s fifty day moving average is $637.78 and its 200 day moving average is $746.46. The company has a market capitalization of $32.25 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.60 and a beta of 1.03.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $3.17 EPS for the quarter, missing the consensus estimate of $4.01 by ($0.84). Monolithic Power Systems had a return on equity of 20.36% and a net margin of 80.95%. On average, sell-side analysts forecast that Monolithic Power Systems, Inc. will post 13.2 EPS for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.56 dividend. This is a positive change from Monolithic Power Systems’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.94%. Monolithic Power Systems’s dividend payout ratio is presently 13.60%.

Insider Activity

In other news, EVP Maurice Sciammas sold 7,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $701.98, for a total value of $4,913,860.00. Following the completion of the transaction, the executive vice president now directly owns 16,015 shares in the company, valued at approximately $11,242,209.70. This represents a 30.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MPWR. Wells Fargo & Company lifted their target price on shares of Monolithic Power Systems from $610.00 to $710.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup started coverage on shares of Monolithic Power Systems in a report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 price objective for the company. TD Cowen lowered their target price on shares of 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. KeyCorp increased their target price on Monolithic Power Systems from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $866.17.

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.