Monolithic Power Systems Inc (NASDAQ:MPWR) shares are trading higher by 2.17% to $557.42 during Monday's session. The stock is rising Monday potentially in sympathy with ON Semiconductor after the company reported strong earnings.

Traders and investors are also watching for MPWR's second-quarter earnings report, confirmed for after the market close. According to analyst consensus estimates, MPWR is expected to report EPS of $2.81 on revenue of $440.46 million.

What Happened With Earnings?

ON Semi achieved flat revenue growth year-on-year, reaching $2.09 billion, surpassing the consensus estimate of $2.02 billion. Additionally, non-GAAP EPS was $1.33, exceeding the consensus estimate of $1.21.

The company's non-GAAP gross margin declined by 230 basis points to 47.4%, and the non-GAAP operating margin decreased by 170 basis points to 32.8%...Read More

According to data from Benzinga Pro, MPWR has a 52-week high of $595.98 and a 52-week low of $301.69.