Montage Technology Group Lowered to “Neutral” at Zacks (MONT)
Montage Technology Group (NASDAQ:MONT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, American Banking News.com reports. They currently have a $20.90 target price on the stock. Zacks‘ target price would suggest a potential upside of 30.79% from the stock’s previous close.
A number of other firms have also recently commented on MONT. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Montage Technology Group in a research note on Friday. They now have a $23.00 price target on the stock. Separately, analysts at Barclays downgraded shares of Montage Technology Group from an “overweight” rating to an “equal weight” rating in a research note on Friday. They now have a $16.00 price target on the stock, down previously from $20.00. Finally, analysts at Barclays raised their price target on shares of Montage Technology Group from $17.00 to $20.00 in a research note on Friday, January 10th. They now have an “overweight” rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.82.
Montage Technology Group (NASDAQ:MONT) traded up 1.06% on Tuesday, hitting $16.25. 459,185 shares of the company’s stock traded hands. Montage Technology Group has a one year low of $10.00 and a one year high of $26.70. The stock’s 50-day moving average is $19.94 and its 200-day moving average is $16.93. The company has a market cap of $446.8 million and a price-to-earnings ratio of 17.67.
Montage Technology Group (NASDAQ:MONT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The company had revenue of $35.40 million for the quarter, compared to the consensus estimate of $35.24 million. Analysts expect that Montage Technology Group will post $1.36 EPS for the current fiscal year.
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