On July 30, Monolithic Power surged 11.99% in after-hours trading, reaching $1,414.798 per share, with turnover of $61.43 million.

The rally was triggered by the company's Q2 earnings release after market close. Market consensus had projected quarterly revenue of approximately $902 million, representing 38.62% year-over-year growth, and adjusted earnings per share of approximately $5.87, up 42.57% year-over-year. The magnitude of the after-hours jump suggests results exceeded these already-elevated expectations. Oppenheimer had previously reiterated its outperform rating and $1,700 price target, citing AI-driven enterprise data and communications segments expected to nearly double this year, with topline projected to reach a $4 billion run rate by year-end. The institutional average target price stands at $1,795.45, with consensus sentiment firmly bullish. The stock had experienced volatile trading in the days leading up to the report, declining over 4% on July 29 amid a broader semiconductor selloff before rebounding more than 5% on the day of the release.

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