On August 11, Monolithic Power rose 3.04% in regular trading, trading at $1426.06 per share, with turnover of $105 million. The stock continues to be supported by strong fundamental momentum following its Q2 earnings beat.

The company reported Q2 revenue of $980.6 million, significantly exceeding the consensus estimate of $903.3 million, representing a 47.5% year-over-year increase. Adjusted EPS came in at $6.50, beating the $5.87 estimate by 10.73% and marking a 54.39% increase from $4.21 a year earlier. Adjusted gross margin was 55.6%. The Q3 revenue guidance of $1.14 billion to $1.16 billion far surpassed the market expectation of $986.8 million, signaling continued robust demand driven by AI-heavy enterprise data and communications segments.

Additionally, the board authorized an additional $500 million for stock repurchases, bringing total buyback authorization to $1 billion. Wells Fargo raised its price target to $1,800 from $1,700 while maintaining an Overweight rating, with the average analyst price target at $1,823.67.

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