Citigroup Inc. Sells 12,344 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Citigroup Inc. cut its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317,488 shares of the semiconductor company’s stock after selling 12,344 shares during the period. Citigroup Inc. owned approximately 0.65% of Monolithic Power Systems worth $293,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MPWR. Assetmark Inc. raised its position in Monolithic Power Systems by 6.6% in the 3rd quarter. Assetmark Inc. now owns 17,586 shares of the semiconductor company’s stock valued at $16,259,000 after buying an additional 1,082 shares during the last quarter. EULAV Asset Management raised its holdings in shares of Monolithic Power Systems by 8.6% in the third quarter. EULAV Asset Management now owns 108,274 shares of the semiconductor company’s stock valued at $100,099,000 after purchasing an additional 8,600 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Monolithic Power Systems by 237.3% during the first quarter. Cetera Investment Advisers now owns 6,766 shares of the semiconductor company’s stock valued at $4,583,000 after purchasing an additional 4,760 shares in the last quarter. Empowered Funds LLC boosted its holdings in Monolithic Power Systems by 29.0% during the third quarter. Empowered Funds LLC now owns 4,047 shares of the semiconductor company’s stock worth $3,741,000 after purchasing an additional 909 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in Monolithic Power Systems by 1,118.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 45,733 shares of the semiconductor company’s stock worth $42,280,000 after purchasing an additional 41,979 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Monolithic Power Systems Trading Up 1.1 %

Shares of MPWR stock opened at $566.04 on Friday. The firm’s 50 day moving average is $839.56 and its 200 day moving average is $824.73. The stock has a market capitalization of $27.61 billion, a P/E ratio of 63.82, a PEG ratio of 2.79 and a beta of 1.15. Monolithic Power Systems, Inc. has a 12 month low of $538.00 and a 12 month high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $600.10 million. On average, equities analysts predict that Monolithic Power Systems, Inc. will post 10.46 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, September 30th. Monolithic Power Systems’s payout ratio is presently 56.37%.

Insider Activity

In related news, CFO Theodore Blegen sold 734 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $765.15, for a total value of $561,620.10. Following the transaction, the chief financial officer now directly owns 55,944 shares in the company, valued at approximately $42,805,551.60. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deming Xiao sold 9,259 shares of Monolithic Power Systems stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the sale, the executive vice president now owns 20,455 shares of the company’s stock, valued at approximately $19,432,250. The trade was a 31.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,359 shares of company stock worth $26,709,571 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MPWR has been the topic of a number of research analyst reports. Rosenblatt Securities downgraded Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Truist Financial reiterated a “buy” rating and set a $994.00 target price (up from $918.00) on shares of Monolithic Power Systems in a research note on Wednesday, October 2nd. TD Cowen reduced 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. Stifel Nicolaus lifted their price objective on shares of Monolithic Power Systems from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Raymond James increased their target price on shares of Monolithic Power Systems from $770.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $840.36.

Monolithic Power Systems Company 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.