Monolithic Power Systems just cleared a psychological line for chip investors. Q3 2026 was the first quarter with revenue above US$1b, landing at US$1.20b and paired with basic earnings per share of US$5.53. Yet the stock only inched up about 1.1% to roughly US$1,212 into the close. That muted move sits awkwardly against a business that now carries a rich 66.2x P/E and a modelled cash flow value well below the share price. This puts today’s action squarely in the spotlight of a valuation strain story rather than a growth celebration.
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