On August 12, Monolithic Power rose 4.39% in regular trading, trading at $1435.31/share, with turnover of $59.15 million. The stock extended pre-market gains driven by new institutional coverage and continued momentum from a blowout Q2 earnings report.

On the news front, GF Securities initiated coverage on Monolithic Power with a Buy rating and a $1706 price target, highlighting the company's critical positioning in the AI power supply chain benefiting from robust GPU and ASIC chip demand, and projecting enterprise data segment sales to surge 153% year-over-year. Wells Fargo also raised its price target to $1800 from $1700, maintaining an Overweight rating.

The fundamental backdrop remains strong. The company reported Q2 revenue of $980.6 million, well above the $903.3 million consensus, while adjusted EPS of $6.50 topped estimates of $5.87 by 10.73%, representing 54.39% year-over-year growth. Q3 revenue guidance of $1.14-$1.16 billion significantly exceeded the $986.8 million estimate. The board additionally authorized $500 million in share repurchases, bringing total authorization to $1 billion.

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