OLD National Bancorp IN Takes $261,000 Position in Monolithic Power Systems, Inc. (NASDAQ:MPWR)

OLD National Bancorp IN acquired a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 414 shares of the semiconductor company’s stock, valued at approximately $261,000.

Other institutional investors have also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in shares of Monolithic Power Systems by 56.1% during the fourth quarter. Arlington Trust Co LLC now owns 64 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 23 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the fourth quarter valued at approximately $43,000. Operose Advisors LLC purchased a new stake in shares of Monolithic Power Systems during the third quarter valued at approximately $43,000. Lindbrook Capital LLC boosted its stake in shares of Monolithic Power Systems by 137.0% during the fourth quarter. Lindbrook Capital LLC now owns 109 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 63 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Monolithic Power Systems by 145.8% during the fourth quarter. Private Trust Co. NA now owns 118 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPWR shares. Oppenheimer increased their price objective on Monolithic Power Systems from $600.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus upped their target price on Monolithic Power Systems from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. TD Cowen upped their target price on Monolithic Power Systems from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Needham & Company LLC upped their target price on Monolithic Power Systems from $500.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, KeyCorp upped their target price on Monolithic Power Systems to $850.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Monolithic Power Systems presently has an average rating of “Moderate Buy” and an average target price of $670.30.

Monolithic Power Systems Price Performance

Shares of NASDAQ:MPWR opened at $660.34 on Friday. Monolithic Power Systems, Inc. has a 1-year low of $383.19 and a 1-year high of $778.15. The business has a fifty day moving average price of $683.86 and a 200-day moving average price of $607.16. The company has a market capitalization of $32.13 billion, a PE ratio of 75.38, a PEG ratio of 3.44 and a beta of 1.24.

Monolithic Power Systems (NASDAQ:MPWR) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.17). Monolithic Power Systems had a net margin of 23.47% and a return on equity of 22.66%. The company had revenue of $454.01 million for the quarter, compared to the consensus estimate of $452.13 million. On average, sell-side analysts anticipate that Monolithic Power Systems, Inc. will post 10.05 earnings per share for the current fiscal year.

Monolithic Power Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Monolithic Power Systems’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 0.76%. Monolithic Power Systems’s dividend payout ratio (DPR) is presently 57.08%.

Insider Activity

In related news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $603.26, for a total transaction of $1,508,150.00. Following the sale, the chief financial officer now directly owns 84,768 shares of the company’s stock, valued at $51,137,143.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Theodore Blegen sold 2,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $603.26, for a total transaction of $1,508,150.00. Following the sale, the chief financial officer now directly owns 84,768 shares of the company’s stock, valued at $51,137,143.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Zhou sold 200 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $750.57, for a total value of $150,114.00. Following the sale, the director now directly owns 6,269 shares in the company, valued at $4,705,323.33. The disclosure for this sale can be found here. Insiders sold 45,077 shares of company stock worth $30,357,479 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.