On August 3, Monolithic Power fell 3.05% in pre-market trading, trading at $1,382.51 per share, with turnover of $1.4422 million.
The decline came amid broad-based selling pressure across the semiconductor sector. Within the industry, Micron Technology fell 3.89%, Intel dropped 2.16%, Advanced Micro Devices declined 2.10%, NVIDIA slipped 0.70%, and Broadcom edged down 0.59%, reflecting a sector-wide pullback.
The retreat follows a sharp rally in the prior session after Monolithic Power reported second-quarter results on July 30 that significantly exceeded expectations. Adjusted EPS of $6.50 beat the $5.87 consensus by over 10%, while revenue of $980.6 million surpassed the $903 million estimate. Management guided third-quarter revenue to $1.14 billion to $1.16 billion, well above the $985 million street view. Multiple analysts subsequently raised price targets, with KeyBanc lifting its target to $2,100 and Wells Fargo to $1,800, both maintaining buy-equivalent ratings.
(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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