On August 3, Monolithic Power fell 3.55% in regular trading, trading at 1330.22 USD/share, with turnover of approximately $189 million. The decline came as the broader semiconductor sector faced collective selling pressure.
On the news front, the semiconductor industry experienced widespread weakness, with major names posting significant losses: SK hynix down 5.0%, Micron Technology down 4.37%, Intel down 3.53%, Advanced Micro Devices down 3.4%, and NVIDIA down 0.63%. The sector-wide downturn served as the primary drag on Monolithic Power shares.
Notably, the stock had surged approximately 14.59% on July 31 following a strong Q2 earnings report, with adjusted EPS of $6.50 beating the consensus estimate of $5.87, and revenue of $980.6 million significantly exceeding the $903.3 million expectation. The company also issued Q3 revenue guidance of $1.14-$1.16 billion, well above the analyst consensus of $986.8 million. Wells Fargo subsequently raised its price target to $1,800 from $1,700, maintaining an overweight rating.
(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.)
Comments