Why Monolithic Power Systems Stock Jumped 14.7% This Morning
Shares of Monolithic Power Systems (NASDAQ: MPWR) rose as much as 14.7% on Friday morning, reaching that peak at 9:49 a.m. ET. The earnings-inspired spike faded somewhat later in the day, leaving share prices 5.3% above Thursday's closing level four hours later.
The maker of semiconductor-based power management systems reported fourth-quarter sales of $336.5 million, 44% above the year-ago period's result. Adjusted earnings increased by 62% to $2.12 per diluted share. The analyst consensus had pointed to earnings near $1.87 per share on sales in the neighborhood of $322 million, and Monolithic breezed past both of these Street targets. Management also issued first-quarter revenue guidance 12% ahead of current analyst projections at the midpoint, and also boosted the company's quarterly dividend from $0.60 to $0.75 per share.
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Source Fool.com
