Prudential PLC Buys 324 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Prudential PLC grew its stake in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 61.8% during the second quarter, Holdings Channel reports. The firm owned 848 shares of the semiconductor company’s stock after purchasing an additional 324 shares during the period. Prudential PLC’s holdings in Monolithic Power Systems were worth $697,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MPWR. Family Firm Inc. bought a new position in shares of Monolithic Power Systems in the second quarter valued at approximately $25,000. RiverPark Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the first quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new stake in shares of Monolithic Power Systems during the first quarter valued at approximately $31,000. Atwood & Palmer Inc. purchased a new stake in shares of Monolithic Power Systems during the second quarter valued at approximately $33,000. Finally, Crewe Advisors LLC increased its position in shares of Monolithic Power Systems by 126.3% during the second quarter. Crewe Advisors LLC now owns 43 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock opened at $895.91 on Friday. Monolithic Power Systems, Inc. has a one year low of $392.10 and a one year high of $959.64. The business has a fifty day moving average price of $856.06 and a 200-day moving average price of $768.53. The firm has a market capitalization of $43.68 billion, a P/E ratio of 106.78, a PEG ratio of 3.73 and a beta of 1.12.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. Monolithic Power Systems had a return on equity of 20.24% and a net margin of 21.70%. The firm had revenue of $507.40 million during the quarter, compared to analyst estimates of $490.66 million. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts expect that Monolithic Power Systems, Inc. will post 10.41 earnings per share for the current fiscal year.

Insider Transactions at Monolithic Power Systems

In related news, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $904.20, for a total transaction of $2,260,500.00. Following the completion of the sale, the chief financial officer now owns 61,678 shares of the company’s stock, valued at $55,769,247.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Deming Xiao sold 9,259 shares of Monolithic Power Systems stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $950.00, for a total transaction of $8,796,050.00. Following the completion of the sale, the executive vice president now owns 20,455 shares of the company’s stock, valued at $19,432,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Theodore Blegen sold 2,500 shares of Monolithic Power Systems stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $904.20, for a total value of $2,260,500.00. Following the sale, the chief financial officer now directly owns 61,678 shares of the company’s stock, valued at approximately $55,769,247.60. The disclosure for this sale can be found here. Insiders sold 98,299 shares of company stock valued at $83,140,933 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MPWR shares. KeyCorp increased their price target on Monolithic Power Systems from $975.00 to $1,075.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer increased their price target on Monolithic Power Systems from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft raised their target price on Monolithic Power Systems from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen raised their target price on Monolithic Power Systems from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Needham & Company LLC raised their target price on Monolithic Power Systems from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $912.30.

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.