Principal Financial Group Inc. Sells 38,716 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Principal Financial Group Inc. lessened its position in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 32.3% in the third quarter, HoldingsChannel.com reports. The fund owned 81,064 shares of the semiconductor company’s stock after selling 38,716 shares during the period. Principal Financial Group Inc.’s holdings in Monolithic Power Systems were worth $74,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. &PARTNERS acquired a new stake in Monolithic Power Systems during the 2nd quarter valued at $528,000. Retirement Systems of Alabama increased its position in shares of Monolithic Power Systems by 1.3% during the second quarter. Retirement Systems of Alabama now owns 10,735 shares of the semiconductor company’s stock worth $8,821,000 after buying an additional 136 shares during the period. Family Firm Inc. bought a new position in Monolithic Power Systems during the second quarter worth $25,000. Calamos Advisors LLC lifted its holdings in Monolithic Power Systems by 401.0% in the second quarter. Calamos Advisors LLC now owns 2,590 shares of the semiconductor company’s stock valued at $2,128,000 after buying an additional 2,073 shares during the period. Finally, State of Michigan Retirement System boosted its position in Monolithic Power Systems by 2.9% during the second quarter. State of Michigan Retirement System now owns 14,170 shares of the semiconductor company’s stock valued at $11,643,000 after acquiring an additional 400 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Monolithic Power Systems Stock Performance

Shares of Monolithic Power Systems stock opened at $593.22 on Friday. Monolithic Power Systems, Inc. has a 52-week low of $546.71 and a 52-week high of $959.64. The company’s 50 day moving average price is $698.15 and its 200-day moving average price is $802.69. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 66.88, a P/E/G ratio of 2.90 and a beta of 1.05.

Monolithic Power Systems (NASDAQ:MPWR) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.05). The firm had revenue of $620.12 million during the quarter, compared to analysts’ expectations of $600.10 million. Monolithic Power Systems had a net margin of 21.29% and a return on equity of 20.44%. As a group, equities research analysts forecast that Monolithic Power Systems, Inc. will post 10.46 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Monolithic Power Systems’s dividend payout ratio (DPR) is currently 56.37%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MPWR shares. Truist Financial reaffirmed a “buy” rating and issued a $994.00 price target (up previously from $918.00) on shares of Monolithic Power Systems in a report on Wednesday, October 2nd. KeyCorp decreased their price target on shares of Monolithic Power Systems from $1,075.00 to $700.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Citigroup assumed coverage on shares of Monolithic Power Systems in a research report on Wednesday, December 11th. They issued a “buy” rating and a $700.00 target price for the company. TD Cowen cut their price objective on Monolithic Power Systems from $1,100.00 to $975.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Rosenblatt Securities cut Monolithic Power Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $828.67.

Insider Activity

In other Monolithic Power Systems news, EVP Deming Xiao sold 866 shares of Monolithic Power Systems stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $765.14, for a total transaction of $662,611.24. Following the sale, the executive vice president now directly owns 162,239 shares of the company’s stock, valued at approximately $124,135,548.46. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maurice Sciammas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $929.59, for a total value of $10,225,490.00. Following the completion of the transaction, the executive vice president now owns 103,829 shares of the company’s stock, valued at approximately $96,518,400.11. The trade was a 9.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,100 shares of company stock valued at $17,153,021. Company insiders own 3.70% of the company’s stock.

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.