Principal Financial Group Inc. Buys 7,832 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Principal Financial Group Inc. grew its stake in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,700 shares of the semiconductor company’s stock after buying an additional 7,832 shares during the period. Principal Financial Group Inc.’s holdings in Monolithic Power Systems were worth $23,806,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Monolithic Power Systems by 1.7% during the first quarter. BlackRock Inc. now owns 4,237,893 shares of the semiconductor company’s stock worth $574,193,000 after buying an additional 69,101 shares in the last quarter. Vanguard Group Inc increased its position in Monolithic Power Systems by 6.2% during the third quarter. Vanguard Group Inc now owns 3,553,528 shares of the semiconductor company’s stock worth $446,074,000 after buying an additional 208,362 shares in the last quarter. FMR LLC increased its position in Monolithic Power Systems by 3.2% during the fourth quarter. FMR LLC now owns 1,432,704 shares of the semiconductor company’s stock worth $166,552,000 after buying an additional 44,356 shares in the last quarter. Wells Fargo & Company MN increased its position in Monolithic Power Systems by 1.9% during the first quarter. Wells Fargo & Company MN now owns 1,298,612 shares of the semiconductor company’s stock worth $175,950,000 after buying an additional 24,394 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Monolithic Power Systems by 13.9% during the first quarter. JPMorgan Chase & Co. now owns 885,079 shares of the semiconductor company’s stock worth $119,919,000 after buying an additional 107,870 shares in the last quarter. 96.00% of the stock is owned by institutional investors.

In other news, CFO Theodore Blegen sold 905 shares of Monolithic Power Systems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $138.60, for a total value of $125,433.00. Following the completion of the sale, the chief financial officer now owns 84,237 shares of the company’s stock, valued at $11,675,248.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Saria Tseng sold 5,203 shares of Monolithic Power Systems stock in a transaction on Monday, June 10th. The shares were sold at an average price of $130.00, for a total value of $676,390.00. Following the completion of the transaction, the vice president now owns 306,996 shares in the company, valued at approximately $39,909,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,518 shares of company stock valued at $22,544,923. Company insiders own 4.00% of the company’s stock.

Several equities analysts have weighed in on MPWR shares. BidaskClub downgraded Monolithic Power Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Monolithic Power Systems in a research report on Monday, March 4th. ValuEngine downgraded Monolithic Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, Zacks Investment Research raised Monolithic Power Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $148.71.

Shares of NASDAQ:MPWR opened at $126.41 on Friday. The firm has a market capitalization of $5.44 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.65. Monolithic Power Systems, Inc. has a 52 week low of $101.99 and a 52 week high of $161.22.

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

TRADEMARK VIOLATION WARNING: This piece was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2019/06/16/principal-financial-group-inc-buys-7832-shares-of-monolithic-power-systems-inc-nasdaqmpwr.html.

About Monolithic Power Systems

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.

Recommended Story: How is diluted EPS different from basic EPS?

Want to see what other hedge funds are holding MPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monolithic Power Systems, Inc. (NASDAQ:MPWR).

Institutional Ownership by Quarter for Monolithic Power Systems (NASDAQ:MPWR)

Receive News & Ratings for Monolithic Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monolithic Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.