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.)
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