Why Is Monolithic Power Stock Going Up?

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Monolithic Power Systems (MPWR) stock rose 6.8% on Tuesday, November 3, 2026, against a 0.4% gain for the S&P 500. The company filed its 10-Q quarterly report with the SEC that day, in a session when 32 of the 34 other semiconductor companies worth $2 billion or more also rose. The third-quarter results were not new. Management had already delivered them on its October 29 earnings call.

What Monolithic Power Reported For Its Third Quarter

Monolithic Power hosted its third-quarter earnings call on October 29, 2026, ahead of the November 3 filing. On the call, management said revenue reached $1.2 billion, landing 63% higher than in the third quarter of 2025. The total marked the company’s first quarter with more than $1 billion in revenue.

Management also said the company is adding capacity, which can now support more than $6 billion of annual revenue. The company expects to have $8 billion in place by the second half of 2027. Demand was strong across existing customers in its enterprise data end market, and management expects that to continue into 2027. In automotive, the company received its first orders for its 48-volt power solutions. Monolithic Power also repurchased over $450 million of its own stock during the quarter.

Did Monolithic Power Rise With Other Chip Stocks?

Yes, though it rose further than most of the group. Out of the 34 other companies worth $2 billion or more in the semiconductor industry, 32 rose. The median gain was 2.5%, and seven of those stocks climbed 5% or more. The technology sector fund XLK gained 1.3%.

All five companies on the Trefis peer list for Monolithic Power rose as well, including ON Semiconductor at 3.6% and Texas Instruments at 3.5%. Monolithic Power moved with its group, posting a gain larger than the industry median and larger than any of its five peers.

Where Does Monolithic Power Stock Stand Now?

A rise this large is not rare for the stock. It recorded six rises at least this large over the previous year. Its latest move of this size in either direction was a 9.0% fall on October 22, 2026.

Since October 31, 2025, the stock has returned 33.1%, against 11.9% for the S&P 500. The path was uneven: shares closed at a 52-week low of $856.96 on November 18, 2025, and reached a high close of $1,689.89 on June 3, 2026. The stock has lost 16.1% since May 5, while the S&P 500 returned 4.8%. It has lost 10.2% since October 5, against a 2.6% loss for the index.

Investors pay a lot for its sales. Monolithic Power trades at 19.9 times its sales over the twelve months to June 2026, against 3.2 times for the S&P 500. That sales figure does not include the third quarter.

The company is expected to report its fourth-quarter results in February 2027. Management said the gross margin rose 10 basis points in the third quarter, and guided it up another 10 basis points at the midpoint for the fourth.

Does This Mean You Should Act On MPWR?

Our purpose is to inform you with unique data so you make the right investment decisions. That said, betting on a single stock is always risky, no matter which direction you choose.

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