Why Monolithic Power Systems Plunged Today
Shares of Monolithic Power Systems (NASDAQ: MPWR) plunged on Thursday, down 18.2% as of 1:39 p.m. ET.
The company reported earnings last night, and while reported results showed strong growth beating expectations, Monolithic's fourth-quarter outlook may have disappointed. Furthermore, the company received an ominous downgrade today.
In the third quarter, Monolithic reported revenue growth of 30.6% to $620.1 million, with earnings per share growing 31.8% to $4.08. Both figures handily beat analyst expectations.
Source Fool.com
