Synovus Financial Corp Sells 614 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Synovus Financial Corp decreased its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 11.8% in the third quarter, Holdings Channel.com reports. The firm owned 4,573 shares of the semiconductor company’s stock after selling 614 shares during the period. Synovus Financial Corp’s holdings in Monolithic Power Systems were worth $4,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MPWR. FMR LLC boosted its position in Monolithic Power Systems by 11.4% during the third quarter. FMR LLC now owns 3,519,376 shares of the semiconductor company’s stock valued at $3,253,664,000 after buying an additional 361,416 shares during the period. State Street Corp lifted its stake in shares of Monolithic Power Systems by 2.1% in the 3rd quarter. State Street Corp now owns 2,085,146 shares of the semiconductor company’s stock valued at $1,930,301,000 after acquiring an additional 42,678 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Monolithic Power Systems by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,334,164 shares of the semiconductor company’s stock valued at $1,230,626,000 after acquiring an additional 133,838 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Monolithic Power Systems by 26.3% during the 3rd quarter. Van ECK Associates Corp now owns 447,823 shares of the semiconductor company’s stock valued at $395,715,000 after acquiring an additional 93,362 shares during the period. Finally, Barclays PLC grew its position in Monolithic Power Systems by 5.0% during the 3rd quarter. Barclays PLC now owns 322,115 shares of the semiconductor company’s stock worth $297,799,000 after acquiring an additional 15,350 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Monolithic Power Systems Stock Up 0.5 %

NASDAQ MPWR opened at $608.44 on Friday. The stock’s 50 day moving average is $730.56 and its 200 day moving average is $807.22. The firm has a market capitalization of $29.68 billion, a PE ratio of 68.60, a P/E/G ratio of 2.97 and a beta of 1.05. Monolithic Power Systems, Inc. has a twelve month low of $546.71 and a twelve month high of $959.64.

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

Monolithic Power Systems Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.82%. Monolithic Power Systems’s payout ratio is 56.37%.

Insiders Place Their Bets

In other news, EVP Deming Xiao sold 866 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $765.14, for a total transaction of $662,611.24. Following the completion of the sale, the executive vice president now owns 162,239 shares of the company’s stock, valued at $124,135,548.46. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Theodore Blegen sold 2,500 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $600.00, for a total value of $1,500,000.00. Following the sale, the chief financial officer now directly owns 53,444 shares of the company’s stock, valued at $32,066,400. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,100 shares of company stock valued at $17,153,021. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

MPWR has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $900.00 price objective on shares of Monolithic Power Systems in a research report on Monday, November 11th. TD Cowen dropped 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. Needham & Company LLC decreased their price objective on shares of Monolithic Power Systems from $950.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. 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 report on Wednesday, October 2nd. Finally, Wells Fargo & Company initiated coverage on Monolithic Power Systems in a report on Friday, November 22nd. They set an “equal weight” rating and a $610.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $828.67.

About Monolithic Power Systems

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.