Monolithic Power (MPWR) shares soared 5.38% in pre-market trading, extending gains amid a broad semiconductor sector rebound. The stock was trading around $1,286.99 per share with turnover of $245,100.
The surge was supported by a widespread recovery in the semiconductor space, with peers like Advanced Micro Devices, Intel, Micron Technology, NVIDIA, and SK hynix all posting notable pre-market advances. This sector-wide rally helped ease the selling pressure that had weighed on the group earlier in the week.
Optimism was further fueled by the company's upcoming Q2 earnings report, scheduled after the market close. Consensus estimates forecast revenue of approximately $902 million, representing a 38.62% year-over-year increase. Oppenheimer reiterated an outperform rating and a $1,700 price target, citing AI-driven enterprise data and communications segments that are expected to nearly double this year. The average institutional price target stands at $1,795.45, with most analysts maintaining a bullish outlook.