Montage Technology Group Ltd Rating Increased to Outperform at Zacks (MONT)
Montage Technology Group Ltd (NASDAQ:MONT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, Analyst Ratings News reports. The firm currently has a $19.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 16.49% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets initiated coverage on shares of Montage Technology Group Ltd in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock. Separately, analysts at Chardan Capital initiated coverage on shares of Montage Technology Group Ltd in a research note to investors on Monday, December 16th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Montage Technology Group Ltd from $18.00 to $20.00 in a research note to investors on Friday, November 22nd. They now have a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.67.
Shares of Montage Technology Group Ltd (NASDAQ:MONT) traded up 5.82% on Thursday, hitting $17.26. 96,706 shares of the company’s stock traded hands. Montage Technology Group Ltd has a 52-week low of $10.00 and a 52-week high of $19.69. The stock has a 50-day moving average of $16.74 and a 200-day moving average of $15.39. The company has a market cap of $457.0 million and a P/E ratio of 21.95.
Montage Technology Group Ltd (NASDAQ:MONT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.21. The company had revenue of $30.10 million for the quarter, compared to the consensus estimate of $28.34 million. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. On average, analysts predict that Montage Technology Group Ltd will post $1.05 earnings per share for the current fiscal year.
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