OLD National Bancorp IN Takes $395,000 Position in Monolithic Power Systems, Inc. (MPWR)

OLD National Bancorp IN Takes $395,000 Position in Monolithic Power Systems, Inc. (MPWR)

OLD National Bancorp IN bought a new stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) during the 1st quarter, Holdings Channel reports. The firm bought 2,912 shares of the semiconductor company’s stock, valued at approximately $395,000.

Several other large investors have also bought and sold shares of MPWR. State Board of Administration of Florida Retirement System raised its stake in shares of Monolithic Power Systems by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,143 shares of the semiconductor company’s stock valued at $6,523,000 after purchasing an additional 260 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Monolithic Power Systems by 44.7% in the 1st quarter. Victory Capital Management Inc. now owns 552,674 shares of the semiconductor company’s stock valued at $74,882,000 after purchasing an additional 170,806 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Monolithic Power Systems by 16.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,700 shares of the semiconductor company’s stock valued at $501,000 after purchasing an additional 510 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Monolithic Power Systems by 5.0% in the 1st quarter. Texas Permanent School Fund now owns 26,808 shares of the semiconductor company’s stock valued at $3,632,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Executive Wealth Management LLC raised its stake in shares of Monolithic Power Systems by 92.7% in the 1st quarter. Executive Wealth Management LLC now owns 9,181 shares of the semiconductor company’s stock valued at $1,244,000 after purchasing an additional 4,416 shares in the last quarter. Institutional investors and hedge funds own 99.20% of the company’s stock.

Shares of NASDAQ:MPWR opened at $128.33 on Thursday. Monolithic Power Systems, Inc. has a fifty-two week low of $101.99 and a fifty-two week high of $161.22. The stock has a market cap of $5.56 billion, a P/E ratio of 53.69, a price-to-earnings-growth ratio of 1.93 and a beta of 1.46.

Monolithic Power Systems (NASDAQ:MPWR) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. Monolithic Power Systems had a net margin of 18.43% and a return on equity of 17.99%. The business had revenue of $141.40 million during the quarter, compared to the consensus estimate of $141.11 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts expect that Monolithic Power Systems, Inc. will post 2.62 earnings per share for the current year.

In related news, CEO Michael Hsing sold 75,241 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $136.26, for a total transaction of $10,252,338.66. Following the completion of the sale, the chief executive officer now owns 1,202,378 shares of the company’s stock, valued at approximately $163,836,026.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theodore Blegen sold 905 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $138.60, for a total transaction of $125,433.00. Following the sale, the chief financial officer now directly owns 84,237 shares of the company’s stock, valued at approximately $11,675,248.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 282,530 shares of company stock valued at $39,078,638. Insiders own 4.00% of the company’s stock.

A number of brokerages have recently issued reports on MPWR. Zacks Investment Research lowered shares of Monolithic Power Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub lowered shares of Monolithic Power Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank upped their target price on shares of Monolithic Power Systems from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Finally, Needham & Company LLC lowered shares of Monolithic Power Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Monolithic Power Systems has a consensus rating of “Buy” and a consensus price target of $148.88.

Monolithic Power Systems Company Profile

Monolithic Power Systems, Inc designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment.

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