On August 7, Monolithic Power rose 3.01% in pre-market trading, trading at $1,400.00/share, with turnover of $59,200. The gain was driven by a broader semiconductor sector recovery alongside continued support from the company's strong Q2 earnings fundamentals.
On the sector front, semiconductor stocks showed collective strength, with Micron Technology up 1.88%, Intel up 1.39%, and Advanced Micro Devices up 0.87%, lifting sentiment across the group. Fundamentally, the company's Q2 results reported on July 30 significantly exceeded expectations, with revenue of $980.6 million far surpassing the $903.3 million consensus and adjusted EPS of $6.50 beating the $5.87 estimate by 10.73%. The Q3 revenue guidance of $1.14 billion to $1.16 billion also came in well above the $986.8 million market consensus. Wells Fargo subsequently raised its price target to $1,800 from $1,700 while maintaining an Overweight rating, reinforcing the bullish outlook.
(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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