Power management chips maker Monolithic Power Systems (NASDAQ:MPWR) will be reporting results tomorrow after market close. Here's what to look for.

Monolithic Power Systems beat analysts' revenue expectations by 2.9% last quarter, reporting revenues of $457.9 million, up 1.5% year on year. It was a solid quarter for the company, with an impressive beat of analysts' EPS estimates and optimistic revenue guidance for the next quarter.

Is Monolithic Power Systems a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Monolithic Power Systems's revenue to grow 11.2% year on year to $490.6 million, a reversal from the 4.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.07 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Monolithic Power Systems has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at Monolithic Power Systems's peers in the analog semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 19.2%, beating analysts' expectations by 5.2%, and Sensata Technologies reported a revenue decline of 2.5%, in line with consensus estimates. Impinj traded up 4.6% following the results while Sensata Technologies's stock price was unchanged.

Read our full analysis of Impinj's results here and Sensata Technologies's results here.

Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 7.3% on average over the last month. Monolithic Power Systems is down 3.5% during the same time and is heading into earnings with an average analyst price target of $839.2 (compared to the current share price of $799.9).

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