Why Monolithic Power Systems Stock Rose Nearly 15% in May
Shares of power-management chip company Monolithic Power Systems (NASDAQ: MPWR) rose 14.8% in May, according to data from S&P Global Market Intelligence. Granted, shares were down over 20% year to date at times in April, so the rally in May was just that: a recovery of losses from all-time highs. Nevertheless, the company started the month off right with a solid quarterly earnings update that had investors cheering.
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Monolithic beat top- and bottom-line expectations. Revenue in the first quarter of 2022 increased at a sizzling 48% year-over-year pace to $378 million. Earnings per share increased 74% from the prior year, or 68% on an adjusted basis. Operating profit margin was a very healthy 25%. And the balance sheet showed cash and short-term investments totaled $774 million and zero debt at the end of March.
Source Fool.com
