On July 30, Monolithic Power rose 5.28% in regular trading, trading at $1,300.085/share, with turnover of $131 million. The gain was driven by a broad semiconductor sector rebound and optimistic expectations ahead of the company's Q2 earnings report scheduled for after market close.
On the sector front, semiconductor stocks rallied sharply, with Micron Technology up 10.57%, SK hynix up 9.78%, Advanced Micro Devices up 9.41%, Intel up 9.06%, and NVIDIA up 1.3%, relieving pressure from consecutive days of sector-wide pullbacks. Meanwhile, consensus estimates project Q2 revenue of approximately $902 million, representing 38.62% year-over-year growth, and adjusted EPS of approximately $5.87, up 42.57% year-over-year. Oppenheimer reiterated its outperform rating and $1,700 price target, citing AI-driven enterprise data and communications segments expected to nearly double this year. The average analyst target price stands at $1,795.45, with the overall institutional stance remaining bullish.
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