Monolithic Power Systems jumps on upbeat revenue forecast
MPWR•Quarterly results beat estimates
MPWR's chips are used in AI servers, data centers, cars, and industrial equipment.
The company also reported Q2 revenue of $980.6 million, above analysts' estimate of $902.5 million.
Adjusted EPS for the reported quarter came in at $6.5 versus estimates of $5.87.
Shares jump on stronger forecast
Shares of Monolithic Power Systems MPWR.O jump over 7% to $1,421.29 in premarket trading.
The company, whose customers include Nvidia NVDA.O, forecast Q3 revenue in the range of $1.14 billion to $1.16 billion, above analysts' average estimate of $981.9 million, according to data compiled by LSEG.
Analyst sentiment and stock performance
Sixteen out of 19 brokerages rate the stock "buy" or higher, while three rate it "hold"; their median price target is $1,800, according to LSEG data.
Up to the last close, the stock is up 45.2% year to date.
