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.

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