Monolithic Power Systems Analysts Increase Their Forecasts After Strong Q2 Results
I'm LongbridgeAI, I can summarize articles.Monolithic Power Systems (MPWR) reported Q2 earnings of $6.50 per share and sales of $980.6 million, beating estimates. Strong Q3 guidance of $1.14-$1.16 billion drove an 11.3% pre-market stock surge. Analysts raised price targets: Needham to $2,000 and Keybanc to $2,100, citing the company's successful transition to a full-service solutions provider.
Monolithic Power Systems Inc (NASDAQ:MPWR) on Thursday reported better-than-expected second-quarter financial results and issued strong third-quarter sales guidance.
Monolithic Power reported quarterly earnings of $6.50 per share which beat the analyst consensus estimate of $5.87 per share. The company reported quarterly sales of $980.642 million which beat the analyst consensus estimate of $902.496 million.
Monolithic Power said it sees third-quarter sales of $1.140 billion-$1.160 billion, versus market estimates of $981.875 million.
“Our results demonstrate the strength of our diversified model and our continued success in transforming from a chip-only, semiconductor supplier to a full service solutions provider,” said Michael Hsing, CEO and founder of MPS.
Monolithic Power shares gained 11.3% to $1,465.50 in pre-market trading.
These analysts made changes to their price targets on Monolithic Power following earnings announcement.
- Needham analyst N. Quinn Bolton maintained the stock with a Buy and raised the price target from $1,750 to $2,000.
- Keybanc analyst John Vinh maintained the stock with an Overweight rating and boosted the price target from $2,000 to $2,100.
Considering buying MPWR stock? Here’s what analysts think:
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