Recent reports reveal an interesting performance from integrated, power management solutions provider, Monolithic Power Systems. The company's Q3 2024 sales surpassed estimates, but this did not prevent the stock from experiencing a dip. Nonetheless, analysts were upbeat as Monolithic Power's third quarter revenues rose year over year. However, despite beating Q3 earnings and revenue estimates and an expansion of Q3 revenue across all segments, the company experienced a plunge. This prompted Rosenblatt Securities to downgrade Monolithic Power to a Neutral rating from its previous Buy position.
The company's third-quarter profits also managed to exceed estimates, pushing forward despite the price target by TD Cowen being cut to $975.00. Even amidst the mixed reactions from the market, their Q3 performance in 2024 revealed strong revenue growth. This notwithstanding, the company's shares gapped down due to an earnings miss. Regardless of these challenges, the company's Q3 earnings per share (EPS) of $2.95 and revenue of $620.1M, outpaced estimates. The company's strong financial health reflects in its bold prediction for revenue growth, despite setbacks.
Monolithic Power Systems MPWR News Analytics from Thu, 02 May 2024 07:00:00 GMT to Sat, 02 Nov 2024 13:35:33 GMT - Rating -2 - Innovation 2 - Information 5 - Rumor -5
