On July 31, Monolithic Power rose 7.96% in pre-market trading, trading at $1,430.0/share, with turnover of $126,100. The surge was directly catalyzed by the company's Q2 earnings report released after market close on July 30, which significantly exceeded analyst expectations across all key metrics.

Monolithic Power reported Q2 adjusted EPS of $6.50, beating the consensus estimate of $5.87 by 10.73% and representing a 54.39% year-over-year increase from $4.21. Revenue came in at $980.6 million, surpassing the $902.5 million estimate and up 47.6% from $664.6 million a year earlier. Adjusted gross margin was 55.6%, while adjusted operating income reached $367.7 million.

More notably, Q3 revenue guidance of $1.14 billion to $1.16 billion far exceeded the analyst consensus of $986.8 million. Additionally, the board approved an additional $500 million for share repurchases, bringing total buyback authorization to $1 billion. Oppenheimer had previously reiterated its outperform rating with a $1,700 price target, citing AI-driven enterprise data and communications growth expected to nearly double this year.

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