Monolithic Power shares surge 5.29% intraday after hitting all-time high, reporting record $664.6M revenue, and Truist raises price target to $1,375.

Monolithic Power Systems surged 5.29% intraday after reporting record second-quarter revenue of $664.6 million, a 31% year-over-year increase, and announcing a $1.56 per share dividend. Truist Securities also raised its price target to $1,375 from $1,163, citing the company’s pivotal role in AI-driven data center power solutions. These developments reinforced investor confidence in MPWR’s growth trajectory, particularly in high-performance power markets, despite a recent PTAB patent setback. The stock’s intraday rally aligns with its broader momentum, including an 84.4% annual gain and a P/E ratio of 28.08, reflecting strong demand across automotive, industrial, and AI infrastructure sectors.