On August 6, Monolithic Power rose 3.22% in regular trading, trading at $1393.3/share, with turnover of $197 million. The stock had declined over 3% in pre-market trading amid broad semiconductor sector weakness but quickly rebounded after the open.
The recovery was underpinned by robust Q2 results reported on July 30. The company posted revenue of $980.6 million, significantly exceeding the consensus estimate of $903.3 million, while adjusted EPS of $6.50 beat the expected $5.87 by 10.7%. Q3 revenue guidance of $1.14 billion to $1.16 billion also came in well above the market consensus of $986.8 million. Adjusted gross margin reached 55.6% for the quarter, with cash and short-term investments totaling $1.41 billion. The board additionally authorized an extra $500 million for share repurchases, bringing total buyback capacity to $1 billion.
Wells Fargo raised its price target to $1,800 from $1,700 while maintaining an overweight rating, reflecting confidence in the company's fundamental trajectory.
(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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