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Chipmaker Monolithic Power Systems Posts Beat-And-Raise First-Quarter Report

Chipmaker Monolithic Power Systems (MPWR) late Tuesday beat Wall Street’s targets for the first quarter and guided higher for the current period. But MPWR stock fell in extended trading.




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The Kirkland, Wash.-based company, also known as MPS, earned an adjusted $1.46 a share on sales of $254.5 million in the March quarter. Analysts expected earnings of $1.34 a share on sales of $242.8 million. On a year-over-year basis, MPS earnings rose 54% while sales climbed 53%.

“We have paved the way to multibillion-dollar revenue,” Chief Executive Michael Hsing said in a news release.

For the second quarter, MPS expects to generate revenue of $274 million to $286 million. The midpoint of $280 million is above Wall Street’s estimate of $252.5 million in sales for the June quarter.

MPWR Stock Drops Late

Monolithic Power Systems sells energy-efficient semiconductor power systems used in industrial applications, telecom infrastructure, cloud computing, automotive and consumer applications.

In after-hours trading on the stock market today, MPWR stock dropped 4.2%, near 320. During the regular session Tuesday, MPWR stock fell 4.6% to 334.12.

MPWR stock is in the IBD Long-Term Leaders Portfolio.

In addition to MPWR stock, other semiconductor stocks moving on earnings news included Lattice Semiconductor (LSCC) and SiTime (SITM).

Meanwhile, on Monday, ON Semiconductor (ON) delivered a beat-and-raise first-quarter earnings report. ON Semi makes power, analog, sensor and connectivity chips for automotive, industrial, cloud and Internet of Things applications.

The Phoenix-based company earned an adjusted 35 cents a share, up 250% year over year, on sales of $1.48 billion, up 16%, in the first quarter.

For the second quarter, ON Semi guided to adjusted earnings of 49 cents a share, up 308%, on sales of $1.62 billion, up 34%.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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