Monolithic Power projects quarterly revenue above estimates on AI boom [Yahoo! Finance]
Monolithic Power Systems, Inc. (MPWR)
Last monolithic power systems, inc. earnings: 4/28 04:01 pm
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US:NASDAQ Investor Relations:
ir.monolithicpower.com/investor-relations
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Source: Yahoo! Finance
Shares of the Kirkland, Washington-based company rose about 1% in trading after the bell. Analysts expect Monolithic Power, which makes power control modules used in servers and data centers, to benefit from higher budgets being allocated to data centers for artificial intelligence applications. The AI boom is expected to offset poor demand from a beleaguered automotive industry, which has seen sales of electric vehicles slow down due to high-interest rates. The company expects second-quarter revenue between $480 million and $500 million, compared with estimates of $471.8 million. Revenue for the first quarter stood at $457.9 million, compared with analyst's estimates of $446.3 million, according to LSEG data. Sales to enterprise data customers, the largest segment for Monolithic Power, more than tripled to $149.7 million in the March quarter. Profit on an adjusted basis was $2.81 per share in the first three months of the year, while analysts expected a net income of $2.
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MPWR
News
- Monolithic Power: AI And 5G Are Growth Drivers [Seeking Alpha]Seeking Alpha
- Why Is Monolithic Power Systems (MPWR) Stock Soaring Today [Yahoo! Finance]Yahoo! Finance
- Monolithic Power (MPWR) Q1 Earnings Beat on Higher Revenues [Yahoo! Finance]Yahoo! Finance
- Monolithic Power Systems, Inc. (NASDAQ: MPWR) had its price target raised by analysts at Truist Financial Co. from $789.00 to $799.00. They now have a "buy" rating on the stock.MarketBeat
- Monolithic Power Systems, Inc. (NASDAQ: MPWR) had its price target raised by analysts at Wells Fargo & Company from $715.00 to $725.00. They now have an "overweight" rating on the stock.MarketBeat
MPWR
Earnings
- 5/1/24 - Beat
MPWR
Sec Filings
- 5/10/24 - Form 4
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- MPWR's page on the SEC website