Movement Alert|Monolithic Power Rises 3.54% in Regular Trading, Strong Q2 Earnings and Robust Q3 Guidance Continue to Fuel Upside

Market Focus21:53

On August 7, Monolithic Power rose 3.54% in regular trading, trading at $1,412.04/share, with turnover of $65.99 million, extending pre-market gains on sustained fundamental momentum.

On the news front, the company previously reported Q2 results that significantly exceeded expectations. Revenue came in at $980.6 million, well above the consensus estimate of $903.3 million, while adjusted EPS of $6.50 beat the $5.87 estimate by 10.73%, representing a 54.39% year-over-year increase. Q3 revenue guidance of $1.14 billion to $1.16 billion substantially surpassed the Street consensus of $986.8 million. Adjusted gross margin for the quarter was 55.6%.

Wells Fargo raised its price target on the stock to $1,800 from $1,700, maintaining an Overweight rating. The board also approved an additional $500 million stock repurchase authorization, bringing total buyback capacity to $1 billion. The combination of earnings outperformance, elevated forward guidance, analyst upgrades, and capital return initiatives continues to underpin the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment