Monolithic Power Systems NASDAQ: MPWR is a chip stock that isn't nearly as talked about as some other companies in its industry, like NVIDIA NASDAQ: NVDA or Taiwan Semiconductor Manufacturing NYSE: TSM. But that doesn't mean the company hasn't had great success over the years.
Major U.S. equities indexes were mixed and little changed on Wednesday.
Shares of both companies were both suffering after reports from market-intelligence firm Edgewater Research.
Loop Capital initiated coverage of Monolithic Power with a Hold rating and $660 price target.
Earnings beat expectations, but the outlook was too murky for investors in this high-priced stock.
We're reiterating a Buy rating on Monolithic Power Systems, Inc. post Q3 FY24 earning results and the 18% pullback that followed. The pullback signifies that the market is really treating MPWR like an AI name, with RSI hitting oversold territory on guidance of $600M-$620M versus consensus of $603M. MPWR's position within the AI GPU market remains unique, and we expect more content and unit gains as AI power needs expand.
MPWR reports strong third-quarter 2024 results backed by solid growth in all verticals.
Monolithic Power Systems, Inc. (NASDAQ:MPWR ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Genevieve Cunningham - Senior Manager, Marketing Communications Bernie Blegen - Executive Vice President and Chief Financial Officer Michael Hsing - Chairman of the Board, President and Chief Executive Officer Tony Balow - Vice President of Finance Conference Call Participants Rick Schafer - Oppenheimer Tore Svanberg - Stifel Joshua Buchalter - Cowen Chris Caso - Wolfe William Stein - Truist Ross Seymore - Deutsche Bank Quinn Bolton - Needham Genevieve Cunningham Welcome, everyone, to the MPS Third Quarter 2024 Earnings Webinar. My name is Genevieve Cunningham and I will be the moderator for this webinar.
Although the revenue and EPS for Monolithic (MPWR) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Monolithic Power (MPWR) came out with quarterly earnings of $4.06 per share, beating the Zacks Consensus Estimate of $3.96 per share. This compares to earnings of $3.08 per share a year ago.
MPWR is expected to have witnessed top-line growth year over year in the third quarter, backed by solid demand trends in the Enterprise Data, Communications, Storage and Computing segments.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Monolithic (MPWR), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.