Sumitomo Mitsui Trust Group Inc. Sells 4,551 Shares of Monolithic Power Systems, Inc. $MPWR

Sumitomo Mitsui Trust Group Inc. reduced its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,464 shares of the semiconductor company’s stock after selling 4,551 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Monolithic Power Systems were worth $125,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MPWR. Brighton Jones LLC increased its holdings in Monolithic Power Systems by 46.0% in the 4th quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company’s stock worth $376,000 after acquiring an additional 200 shares during the last quarter. Empowered Funds LLC lifted its holdings in Monolithic Power Systems by 3.1% during the first quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company’s stock valued at $3,088,000 after purchasing an additional 161 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Monolithic Power Systems by 3.5% during the second quarter. NewEdge Advisors LLC now owns 9,383 shares of the semiconductor company’s stock valued at $6,863,000 after purchasing an additional 314 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Monolithic Power Systems by 35.2% during the second quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company’s stock worth $26,175,000 after purchasing an additional 9,315 shares during the period. Finally, Globeflex Capital L P bought a new position in Monolithic Power Systems during the second quarter worth about $347,000. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MPWR. Zacks Research raised shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 18th. Oppenheimer set a $1,700.00 price objective on shares of Monolithic Power Systems in a report on Friday, May 1st. Needham & Company LLC lifted their price objective on shares of Monolithic Power Systems from $1,300.00 to $1,750.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp boosted their target price on shares of Monolithic Power Systems from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Truist Financial set a $1,805.00 target price on Monolithic Power Systems in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monolithic Power Systems has an average rating of “Moderate Buy” and an average target price of $1,599.17.

Monolithic Power Systems Trading Down 1.6%

Shares of Monolithic Power Systems stock traded down $21.39 on Friday, reaching $1,352.74. The stock had a trading volume of 577,477 shares, compared to its average volume of 1,133,119. Monolithic Power Systems, Inc. has a 1 year low of $686.87 and a 1 year high of $1,714.09. The company has a market cap of $66.46 billion, a P/E ratio of 97.53, a price-to-earnings-growth ratio of 2.46 and a beta of 1.71. The business’s 50 day moving average is $1,514.02 and its two-hundred day moving average is $1,272.93.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.90 by $0.20. The company had revenue of $804.19 million during the quarter, compared to analysts’ expectations of $781.93 million. Monolithic Power Systems had a net margin of 22.84% and a return on equity of 19.58%. Monolithic Power Systems’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.04 earnings per share. On average, equities analysts anticipate that Monolithic Power Systems, Inc. will post 20.13 EPS for the current fiscal year.

Monolithic Power Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 57.68%.

Insider Activity

In related news, EVP Saria Tseng sold 7,565 shares of Monolithic Power Systems stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,700.00, for a total transaction of $12,860,500.00. Following the completion of the sale, the executive vice president owned 144,218 shares of the company’s stock, valued at approximately $245,170,600. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Zhou sold 1,014 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,587.06, for a total value of $1,609,278.84. Following the transaction, the director owned 4,786 shares of the company’s stock, valued at approximately $7,595,669.16. The trade was a 17.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 69,370 shares of company stock worth $112,702,503. Company insiders own 3.60% of the company’s stock.

About Monolithic Power Systems

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.