On September 24, Monolithic Power fell 3.01% in regular trading, trading at approximately $1,316.76 per share, with turnover of $16.54 million. The decline came amid a broad selloff across the semiconductor sector, with major names posting synchronized losses.

Within the Semiconductors sector where Monolithic Power belongs, stocks declined broadly. Among individual stocks, Micron Technology fell 2.36%, Broadcom fell 2.02%, NVIDIA fell 1.63%, Intel fell 0.96%, and Advanced Micro Devices fell 0.91%. Monolithic Power's decline outpaced the sector, suggesting additional profit-taking pressure after the stock had rallied sharply earlier in the week on news of a long-term manufacturing agreement with GlobalFoundries to deploy MPS proprietary process technology at GF's 300mm facility in Singapore.

The company recently reported strong Q2 results, with adjusted EPS of $6.50 beating the $5.87 consensus by over 10%, and revenue of $980.6 million surpassing estimates of $903.3 million. Q3 revenue guidance of $1.14 billion to $1.16 billion also exceeded expectations. Analysts maintain an average overweight rating with a mean price target of $1,844.50.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)