Westpac Banking Corp Buys New Position in Monolithic Power Systems, Inc. $MPWR

Westpac Banking Corp purchased a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the 2nd quarter, HoldingsChannel reports. The fund purchased 828 shares of the semiconductor company’s stock, valued at approximately $1,145,000.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Monolithic Power Systems by 46.0% in the fourth quarter. Brighton Jones LLC now owns 635 shares of the semiconductor company’s stock worth $376,000 after acquiring an additional 200 shares in the last quarter. Empowered Funds LLC lifted its holdings in Monolithic Power Systems by 3.1% in the 1st quarter. Empowered Funds LLC now owns 5,325 shares of the semiconductor company’s stock valued at $3,088,000 after acquiring an additional 161 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Monolithic Power Systems by 3.5% during the 2nd 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 in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Monolithic Power Systems by 35.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 35,789 shares of the semiconductor company’s stock valued at $26,175,000 after purchasing an additional 9,315 shares in the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Monolithic Power Systems in the 2nd quarter worth approximately $347,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Buying and Selling at Monolithic Power Systems

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 50 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,420.00, for a total transaction of $71,000.00. Following the transaction, the director directly owned 565 shares of the company’s stock, valued at $802,300. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeff Zhou sold 486 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $1,680.00, for a total value of $816,480.00. Following the sale, the director owned 3,800 shares of the company’s stock, valued at approximately $6,384,000. This trade represents a 11.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 8,191 shares of company stock valued at $13,874,865. Company insiders own 3.60% of the company’s stock.

Monolithic Power Systems Stock Performance

Shares of MPWR opened at $1,316.28 on Friday. The firm has a market cap of $64.68 billion, a PE ratio of 80.70 and a beta of 1.69. The firm’s 50 day moving average price is $1,373.38 and its 200 day moving average price is $1,346.04. Monolithic Power Systems, Inc. has a twelve month low of $800.97 and a twelve month high of $1,714.09.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping the consensus estimate of $5.87 by $0.63. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The company had revenue of $980.64 million during the quarter, compared to the consensus estimate of $903.30 million. During the same period in the previous year, the firm posted $4.21 earnings per share. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current fiscal year.

Monolithic Power Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $2.00 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $8.00 dividend on an annualized basis and a yield of 0.6%. Monolithic Power Systems’s dividend payout ratio is currently 49.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Monolithic Power Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Monolithic Power Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. KeyCorp lifted their price target on shares of Monolithic Power Systems from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup reaffirmed a “buy” rating on shares of Monolithic Power Systems in a report on Friday, May 1st. Finally, Arete Research set a $2,013.00 price objective on Monolithic Power Systems and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average price target of $1,731.42.

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.