On July 28, Monolithic Power fell 3.2% in pre-market trading, trading at $1,311.99/share, with turnover of $315,000.
On the news front, the semiconductor sector experienced broad-based selling pressure, serving as the primary drag on the stock. Within the sector, Micron Technology fell 5.65%, SK hynix fell 5.42%, Intel fell 4.58%, Advanced Micro Devices fell 4.16%, and NVIDIA fell 1.64%. The stock had already experienced significant volatility in recent sessions due to sector-wide linkage effects.
The company is scheduled to report Q2 results on July 30 after market close. Consensus estimates project revenue of approximately $902 million, representing 38.62% year-over-year growth, and adjusted EPS of $5.87. Oppenheimer noted the AI-heavy enterprise data and communications segments could drive upside, reiterating an outperform rating with a $1,700 price target. The average analyst target stands at $1,795.45, with the majority maintaining bullish views.
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